trending Market Intelligence /marketintelligence/en/news-insights/trending/Lm4zmAgeV0RD7nbCicuEiw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Hydro One unit completes sale of debentures to fund Avista acquisition

Q3: U.S. Solar and Wind Power by the Numbers

Path to Carbon-Free Power Generation by 2035

The Growing Importance of Data Centers for European & U.S. Renewable Projects

CAISO and ERCOT Power Forecasts by the Hour


Hydro One unit completes sale of debentures to fund Avista acquisition

Hydro One Ltd. subsidiary Ontario Inc. has completed the sale of C$1.54 billion of its 4% convertible unsecured subordinated debentures due Sept. 30, 2027, according to an Aug. 9 release.

Hydro One will use the sale proceeds of approximately C$909.3 million to fund the company's previously announced acquisition of Avista Corp. The remaining C$441.7 million of the proceeds will be used to repay debts under Hydro One's or its subsidiaries' existing revolving credit facilities, to finance short-term interest-bearing U.S. dollar securities and for other general corporate purposes.

The syndicate of underwriters was co-led by RBC Capital Markets, CIBC Capital Markets and BMO Capital Markets.

The underwriters have used the overallotment option to purchase an additional C$140 million of debentures to cover any overallotments.