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Hydro One Inc. Prices Offering of $1.2 Billion Medium Term Notes under Sustainable Financing Framework
Hydro One Inc. Prices Offering of $1.2 Billion Medium Term Notes under Sustainable Financing Fram...
About this update from Hydro One Limited
[{"type":"text","content":"\n\n\n\n Hydro One Inc. Prices Offering of $1.2 Billion Medium Term Notes under Sustainable Financing Framework\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 15, 2024\n \n\n /CNW/ - Hydro One Limited,\n \n Ontario's\n \n largest electricity transmission and distribution company, today announced that its wholly-owned subsidiary, Hydro One Inc. (together with Hydro One Limited, \"\n \n Hydro One\n \n \"), has priced an offering of\n \n $1\n \n .2 billion of Medium Term Notes (the \"\n \n Notes\n \n \") consisting of $700 million aggregate principal amount of 4.25% Medium Term Notes, Series 60, due 2035 (the \"\n \n Series 60 Notes\n \n \") and an additional offering of $500 million aggregate principal amount of 4.85% Medium Term Notes, Series 58, due 2054 (the \"\n \n Series 58 Notes\n \n \"). The Series 60 Notes will be issued at a price of\n \n $99.963\n \n per\n \n $100.00\n \n principal amount and the additional Series 58 Notes will be issued at a price of\n \n $103.315\n \n per\n \n $100.00\n \n principal amount plus accrued interest.\n \n\n The net proceeds from the issuance of the Notes (excluding any accrued interest paid to Hydro One Inc. in connection with the re-opening of the Series 58 Notes) will be approximately\n \n $1\n \n .2 billion. The offering of the Notes is expected to close on August 20, 2024. Upon completion of the offering of the Notes (after giving effect to the offering of additional Series 58 Notes), there will be $1 billion aggregate principal amount of Series 58 Notes outstanding and $700 million aggregate principal amount of Series 60 Notes outstanding.\n \n\n The offering of Notes represents the issuance of medium term notes pursuant to Hydro One's Sustainable Financing Framework dated August 13, 2024 (the \"\n \n 2024 Framework\n \n \"). Hydro One Inc. intends to allocate an amount equal to the net proceeds from the sale of the Notes to finance and/or refinance, in whole or in part, new and...