Enersource Corporation

Enersource Corporation

April 29, 2011 13:43 ET

Enersource Completes Successful $320 Million Debt Offering

MISSISSAUGA, ONTARIO--(Marketwire - April 29, 2011) - Today, Enersource Corporation announced that it has completed a private placement debt offering of $320 million, comprised of two separate series, $110 million of Series A, 10-year debentures and $210 million Series B, 30-year debentures.

The Series A debentures carry a fixed coupon rate of 4.521 per cent and the Series B debentures carry a fixed coupon rate of 5.297 percent. Proceeds of the offering will be used to repay Enersource Corporation's existing long-term debt and for general corporate purposes.

The successful offering was distributed by a syndicate led by CIBC World Markets and Scotia Capital and included RBC Dominion Securities, TD Securities and BMO Capital Markets.

Enersource is a progressive electricity distribution and energy solutions company focusing on quality of service through operational excellence.

Enersource Corporation is 90 per cent owned by the City of Mississauga, and 10 per cent owned by BPC Energy Corporation (Borealis), a subsidiary of the Ontario Municipal Employees Retirement System (OMERS).

This news release shall not constitute an offer to sell the debentures in the United States. The debentures have not been and will not be registered under U.S. securities laws and may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from such registration.

Contact Information