On July 19th, 2017, Hydro One Limited (“Hydro One”) announced that its direct wholly-owned subsidiary, 2582764 Ontario Inc., agreed to sell to a syndicate of underwriters (the “Underwriters”) $1.4 billion aggregate principal amount of 4.00% convertible unsecured subordinated debentures of Hydro One on a bought deal basis (the “Offering”). The Underwriters were co-led by RBC Capital Markets, CIBC Capital Markets, and BMO Capital Markets.
Hydro One is Ontario’s largest electricity transmission and distribution company, with distribution covering approximately 75% of the province. It is headquartered in Toronto, Ontario.
Osler Hoskin & Harcourt LLP acted as counsel to the issuer with a team consisting of Steven Smith, Michael Innes, Rosalind Hunter, James Brown, Jay Greenspoon, Lauren Lefcoe, Blake Binions, Arielle Kaplan, (Corporate), Firoz Ahmed, Drew Morier and David Davachi (Tax).