VANCOUVER, March 15 /CNW/ - Terasen Inc. today announced that it will redeem the entire $125 million principal amount of its 8.0% unsecured subordinated debentures due April 19, 2040 (the "8.0% Capital Securities"). The redemption date will be April 19, 2010 and the redemption price will be equal to 100% of the principal amount of the 8.0% Capital Securities issued and outstanding. Holders of the 8.0% Capital Securities will also receive accrued and unpaid interest up to, but not including, the redemption date.
Terasen Inc.("Terasen Inc." or "the Company") is a Canadian corporation headquartered in British Columbia and the parent company of the Terasen Gas companies, the principal natural gas distributor in the province of British Columbia. Information can be accessed at www.terasen.com or www.sedar.com
Terasen Inc. may include forward-looking statements in this media release which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "anticipate," "believe," "expects," "intend" and similar expressions have been used to identify the forward-looking statements. The forward looking statements in this media release include, but are not limited to, statements regarding: the redemption of the 8.0% Capital Securities, including the redemption date and redemption price of the 8.0% Capital Securities. These statements reflect management's current beliefs and are based on information currently available to the Company's management. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking statements, which include but are not limited to receipt of applicable regulatory approvals and requested rate orders; no significant operational disruptions or environmental liability as a result of a catastrophic event or environmental upset; the competitiveness of natural gas pricing when compared with alternate sources of energy; continued population growth and new housing starts; the availability of natural gas supply; access to capital; interest rates and the ability to hedge certain risks. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally that could cause actual results to differ materially from historical results or results anticipated by the forward-looking statements. Such risk factors include, but are not limited to, regulatory approval and rate orders risk; operational disruptions and environmental risk; price competitiveness risk; changes in economic conditions; natural gas supply risks; capital and credit ratings risk, interest rate risk and counterparty credit risk. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. For additional information with respect to certain of these risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities including the section entitled "Commitments, Events, Risks and Uncertainties" in the Company's management discussion and analysis for the year ended December 31, 2009. Except as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE TERASEN INC.
For further information: For further information: Roger Dall'Antonia, VP Corporate Development and Treasurer, Terasen Inc., Tel: (604) 443-6577