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Gaz Métro closes C$125M private placement of FMBs

Gaz Métro Inc.closed a C$125 million private placement of 3.28% series T first mortgage bondsdue Oct. 9, 2046.

The company will lend the sale proceeds to , which plans to use themto repay existing debt and for general corporate purposes.

The issue was rated A+ by S&P Global Ratings and A byDBRS, according to an Oct. 6 news release.

The bonds were sold through a syndicate of dealers led byBMO Nesbitt Burns Inc. and TD Securities Inc. as joint book runners and co-leadprivate placement agents.

Desjardins Securities Inc., National Bank Financial Inc.,CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc.,Laurentian Bank Securities Inc. and Casgrain & Co. Ltd. acted as agents.

Gaz Métro Inc. holds an economic interest of about 71% inGaz Métro LP, for which it acts as the general partner and a financing vehicle.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.