Hydro-Quebec to Raise USD403 Million in Public Offering of 4% Series JQ Debentures Due 2055

Published: Sep 05 2017
Deal Summary

Hydro-Quebec, a power generation, distribution and transmission company, has announced a public offering of 4% series JQ debentures due February 15, 2055, for gross proceeds of CAD500 million (USD403 million). The debentures will be offered on the market at a price of CAD119.853 (USD96.6) plus interest deemed to have accrued from August 15, 2017, and will yield 3.1% at maturity.

Interest on debentures will be paid semi-annually. The offering is addition to the 4% debentures due February 15, 2055, for gross proceeds of CAD500 million (US446.65 million) issued on November 4, 2014.

National Bank Financial Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. are acting as co-lead managers, Casgrain & Co Ltd, CIBC World Markets Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc (Drummondville)., Scotia Capital Inc. and The Toronto-Dominion Bank are acting as other managers to the company for the offering.

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