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Caribbean Utilities Company, Ltd. Announces Closing of Second Tranche of Private Placement of 7.50% Senior Unsecured Notes Due May 29, 2024
Caribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto S...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nCaribbean Utilities Company, Ltd. is listed for trading in United States\ndollars on the Toronto Stock Exchange under the trading symbol "CUP.U".\n\n\nGRAND CAYMAN, Cayman Islands, July 10 /CNW/ - Caribbean Utilities\nCompany, Ltd. ("CUC") announced today the closing of the second tranche of a\nUS$40 million private placement of 7.50% Senior Unsecured Notes due May 29,\n2024. The first tranche, which closed May 29, 2009, was in the amount of US$30\nmillion and the second tranche, closed today is in the amount of US$10\nmillion.\n\n\nThe debt offering was privately placed with institutional investors in\nthe United States. Proceeds from the second tranche of the offering will be\nused to finance ongoing additions to CUC's generation capacity and\ntransmission and distribution system.\n\n\nThe notes will not be registered under the Securities Act of 1933 (the\n"Securities Act") as amended, nor will they be registered under any state\nsecurities laws. Unless so registered, the notes may not be offered or sold\nexcept pursuant to an exemption from, or in a transaction not subject to, the\nregistration requirements of the Securities Act and applicable state\nsecurities laws.\n\n\nCUC provides electricity to Grand Cayman, Cayman Islands, under an\nElectricity Generation Licence expiring in 2029 and an exclusive Electricity\nTransmission and Distribution Licence expiring in 2028. Further information is\navailable at www.cuc-cayman.com.\n\n\n%SEDAR: 00002251E\n\n\n","length":1597,"tagName":"div"}]