Hydro One Limited

Hydro One in the $1.4 billion bought deal offering

Client

Hydro One Limited

Value

$1.4 billion

Service

Corporate Finance and Securities

Date Closed

Industry

Energy (Electrical Power)

Lead Office

Toronto


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).


Team
Steven  Smith
Key Contact

Steven Smith

Partner, Corporate

Michael  Innes

Michael Innes

Partner, Corporate

Rosalind  Hunter

Rosalind Hunter

Partner, Corporate

James R. Brown

James R. Brown

Partner, Corporate

Firoz Ahmed | Tax Lawyer in Toronto

Firoz Ahmed

Partner, Taxation

Drew Morier | International Tax Lawyer

Drew Morier

Partner, Taxation

Jay Greenspoon

Jay Greenspoon

Associate, Corporate

Lauren Lefcoe

Lauren Lefcoe

Associate, Corporate

Blake Binions

Blake Binions

Associate, Corporate

Arielle Kaplan

Arielle Kaplan

Associate, Corporate

David Davachi

David Davachi

Associate, Taxation