/This press release may not be published, distributed or transmitted
in or into the United States or over United States wire or news
TORONTO, Nov. 18, 2011 /CNW/ - Toronto Hydro Corporation announced today
that it has completed its public offering of $300 million principal
amount of 3.54% senior unsecured debentures due 2021 (Series 7). The
Series 7 Debentures will bear interest at the rate of 3.54% per year
and were sold on an agency basis under the Corporation's MTN program.
TD Securities Inc. served as the lead agent and bookrunner on the
offering and the other syndicate members include BMO Nesbitt Burns
Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC
Dominion Securities Inc. and Scotia Capital Inc.
The net proceeds from the sale of the Series 7 Debentures will be used
to repay the Corporation's outstanding C$245.1 million Series 4
Debentures which mature on December 30, 2011 and the balance will be
used for general corporate purposes.
The Series 7 Debentures have not been and will not be registered in the
United States under the Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United
States or to U.S. Persons absent registration or applicable exemption
from the registration requirement of such Act. This press release does
not constitute an offer to sell or a solicitation to buy the Series 7
Debentures in the United States.
About Toronto Hydro
The Corporation is a holding company which through its wholly-owned
Toronto Hydro-Electric System Limited ("LDC") - distributes electricity
and engages in conservation and demand management activities; and
Toronto Hydro Energy Services Inc. - provides street lighting services.
The principal business of the Corporation is the distribution of
electricity by LDC. LDC owns and operates an electricity distribution
system that delivers electricity to approximately 707,000 customers
located in the City of Toronto.
SOURCE Toronto Hydro Corporation
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