Chicago, Nov. 15 – Caribbean Utilities Co., Ltd. closed on an $80 million offering of 5.88% senior notes due Nov. 15, 2052, according to a press release..
RBC Capital Markets was the sole placement agent for the private placement offering.
Proceeds will be used to repay short-term debt and to finance ongoing additions and upgrades to the company’s generation and transmission and distribution systems.
Caribbean Utilities provides electrical service to Grand Cayman, Cayman Islands.
| Issuer: | Caribbean Utilities Co., Ltd.
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| Amount: | $80 million
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| Issue: | Senior notes
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| Maturity: | Nov. 15, 2052
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| Placement agent: | RBC Capital Markets
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| Coupon: | 5.88%
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| Announcement date: | Nov. 15
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| Distribution: | Private placement
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