Hydro One Inc.

Hydro One Inc. in its $1.5 billion offering of Medium Term Notes

Client

Hydro One Inc.

Value

$1.5 billion

Service

Capital Markets

Date Closed

April 2019

Lead Office

Toronto


 

On April 2, 2019, Hydro One Limited announced that its wholly-owned subsidiary, Hydro One Inc., had priced an offering of $1.5 billion offering of Medium Term Notes, consisting of $700 million aggregate principal amount of 2.54% Medium Term Notes, Series 42, due 2024, $550 million aggregate principal amount of 3.02% Medium Term Notes, Series 43, due 2029 and $250 million aggregate principal amount of 3.64% Medium Term Notes, Series 44, due 2050. The net proceeds from the issuance of the Notes were approximately $1.494 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 April 5, 2019.

Hydro One is Ontario’s largest electricity transmission and distribution provider with almost 1.4 million valued customers, over $25.7 billion in assets and 2018 annual revenues of nearly $6.2 billion.

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


Team
Michael  Innes
Key Contact

Michael Innes

Partner, Corporate

Rosalind  Hunter

Rosalind Hunter

Partner, Corporate

Amelia  Miao

Amelia Miao

Associate, Corporate

Blake Binions

Blake Binions

Associate, Corporate