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Hydro-Québec issues C$500M debentures

Hydro-Québec on Feb. 28 announced the issuance of C$500 million of 4.00% series JQ debentures due Feb. 15, 2055.

The interest is payable semiannually. The debentures will be offered on the market at a price of C$119.22 plus interest accrued from Feb. 15. The yield is 3.120%, according to a news release.

The company negotiated on the Canadian domestic market to issue the securities. This is the third additional tranche of series JQ debentures issued initially on Nov. 4, 2014, with a total C$2.0 billion outstanding under the JQ series.

National Bank Financial Inc. is serving as the lead manager. BMO Nesbitt Burns Inc. and The Toronto-Dominion Bank are acting as co-lead managers.

This is Hydro-Québec's third additional tranche of series JQ debentures initially issued November 2014 and now totaling C$2 billion outstanding.