Hydro One Inc.

Hydro One Inc. in its $1.4 billion offering of Medium Term Notes

Client

Hydro One Inc.

Value

$1.4 billion

Service

Capital Markets

Date Closed

June 2018

Lead Office

Toronto


 

On June 21, 2018,  Hydro One Limited announced that its wholly-owned subsidiary, Hydro One Inc. had priced an offering of $1.4 billion of Medium Term Notes (the “Notes”), consisting of $300 million aggregate principal amount of 2.57% Medium Term Notes, Series 39, due 2021, $350 million aggregate principal amount of 2.97% Medium Term Notes, Series 40, due 2025, and $750 million aggregate principal amount of 3.63% Medium Term Notes, Series 41, due 2049. The net proceeds from the issuance of the Notes were approximately $1.394 billion. The Notes were offered on a best efforts basis in each of the provinces of Canada through a syndicate of agents.

The offering of the Notes closed on June 26, 2018.

Hydro One is Ontario's largest electricity transmission and distribution provider with more than 1.3 million customers, over $25 billion in assets and 2017 annual revenues of nearly $6 billion.

Osler, Hoskin & Harcourt LLP represented Hydro One with a team consisting of Michael Innes, Rosalind Hunter, Amelia Miao and Arielle Kaplan (Corporate).


Team
Michael  Innes

Michael Innes

Partner, Corporate

Rosalind  Hunter

Rosalind Hunter

Partner, Corporate

Amelia  Miao

Amelia Miao

Associate, Corporate

Arielle Kaplan

Arielle Kaplan

Associate, Corporate