By Cristal Cody
Tupelo, Miss., Jan. 24 – Hydro-Quebec priced a C$500 million add-on to its 4% debentures due Feb. 15, 2055 (Aa2/AA-/DBRS: AA) at 141.175, plus accrued interest from Aug. 15, 2019, to yield 2.286% on Friday, according to a press release.
National Bank Financial Inc. was the bookrunner. BMO Nesbitt Burns Inc. and TD Securities Inc. were co-lead managers.
The add-on is the 11th additional tranche of the bonds.
Hydro-Quebec originally issued C$500 million of the debentures on Nov. 4, 2014 at 108.041 to yield 3.619%.
The total outstanding is now C$6 billion.
The renewable energy provider is owned by the Province of Quebec.
| Issuer: | Hydro-Quebec
|
| Amount: | C$500 million reopening
|
| Description: | Series JQ debentures
|
| Maturity: | Feb. 15, 2055
|
| Bookrunner: | National Bank Financial Inc.
|
| Co-lead managers: | BMO Nesbitt Burns Inc. and TD Securities Inc.
|
| Co-managers: | Casgrain & Co. Ltd., CIBC World Markets Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
|
| Coupon: | 4%
|
| Price: | 141.175, plus accrued interest from Aug. 15, 2019
|
| Yield: | 2.286%
|
| Trade date: | Jan. 24
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$6 billion, including C$500 million of debentures originally issued Nov. 4, 2014 at 108.041 to yield 3.619%
|
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