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Arrow Lakes Power intends to sell C$350 million of senior bonds
By Cristal Cody
Prospect News, March 25 - Arrow Lakes Power Corp. is expected to sell C$350 million of senior bonds (A2), a source said Friday.
CIBC World Markets Inc. and Scotia Capital Inc. are the lead managers.
Proceeds will be used to repay existing debt, to fund reserves and to pay a special dividend to the company's owners.
The company operates a hydroelectric generation station near Castlegar, B.C., and is co-owned by Columbia Power Corp. and CBT Arrow Lakes Power Development Corp., a subsidiary of Columbia Basin Trust.
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