Toronto Hydro Corporation

Toronto Hydro Corporation

November 08, 2007 12:46 ET

Toronto Hydro to Sell $250 Million Principal Amount of 5.15% Senior Unsecured Debentures Due 2017 (Series 2)

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2007) - Toronto Hydro Corporation announced today that it has agreed to sell $250 million principal amount of 5.15% senior unsecured debentures due 2017 (Series 2). The Series 2 Debentures will bear interest at the rate of 5.15% per year and are being sold on an agency basis under the Corporation's MTN program.

CIBC World Markets Inc. is the lead agent and bookrunner on the offering and the other syndicate members include BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.

The net proceeds from the sale of the Series 2 Debentures will be used to repay C$245.1 million of indebtedness outstanding to the City of Toronto under the terms of a promissory note between the Corporation and the City and the balance will be used for general corporate purposes.

About Toronto Hydro

The Corporation is a holding company which through its wholly-owned subsidiaries:

- Toronto Hydro-Electric System Limited ("LDC") - distributes electricity;

- Toronto Hydro Energy Services Inc. - provides street lighting and expressway lighting services, and energy efficiency products and services; and

- Toronto Hydro Telecom Inc. - provides fibre optic cable capacity and manages data communications services.

The principal business of the Corporation is the distribution of electricity by LDC. LDC owns and operates an electricity distribution system that delivers electricity to approximately 678,000 customers located in the City of Toronto.

Contact Information

  • Toronto Hydro Corporation
    Blair Peberdy
    Vice-President, Communications and Public Affairs
    (416) 542-2515
    Email: bpeberdy@torontohydro.com
    or
    Toronto Hydro Corporation
    Pankaj Sardana
    VP, Treasurer and Regulatory Affairs
    (416) 542-2707
    Email: psardana@torontohydro.com