Business
Caribbean Utilities Company, Ltd. Announces Second Closing of Second Tranche of Private Placement of 5.65% Senior Unsecured Notes Due June 1, 2022
GRAND CAYMAN, Cayman Islands, Nov. 30 /CNW/ - Caribbean Utilities Company, Ltd. ("CUC") announced...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nGRAND CAYMAN, Cayman Islands, Nov. 30 /CNW/ - Caribbean Utilities\nCompany, Ltd. ("CUC") announced today the closing of the second tranche of a\nUS$40 million private placement of 5.65% Senior Unsecured Notes due June 1,\n2022. The first tranche, closed June 1, 2007, was in the amount of\nUS$30 million and the second tranche, closed today is in the amount of\nUS$10 million.\n\n\nThe debt offering was privately placed with one institutional investor in\nthe United States. Proceeds from the offering will be used to repay short-term\nindebtedness and 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 is the sole provider of electricity to Grand Cayman, Cayman Islands\nand operates under a 25-year exclusive License with the Government of the\nCayman Islands, which expires in January 2011. Further information is\navailable at www.cuc-cayman.com.\n\n\nCaribbean Utilities Company, Ltd. ("CUC" or "the Company"), on occasion,\nincludes forward-looking statements in its media releases, Canadian securities\nregulatory authorities filings, shareholder reports and other communications.\nForward-looking statements are based on underlying assumptions by their very\nnature and are subject to certain risks and uncertainties that may cause\nactual results to vary from plans, targets and estimates. Such risks and\nuncertainties include but are not limited to general economic, market and\nbusiness conditions, regulatory developments and weather conditions. CUC\ncautions readers that actual results may vary significantly from those\nexpected should certain risks or uncertainties materialize or should\nunderlying assumptions prove incorrect. The Company disclaims any intention or\nobligation to update or revise any forward-looking statements, whether as a\nresult of new information, future events or otherwise.\n\n\n%SEDAR: 00002251E\n\n\n","length":2385,"tag...