On April 5, 2011, Arrow Lakes Power Corporation (“ALPC”) issued by private placement $350 million principal amount of 5.516 per cent Series B Bonds due April 5, 2041 and gave notice that it would redeem on May 5, 2011 its outstanding 5.39 per cent Series A Bonds due March 31, 2015. CIBC World Markets Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc. acted as ALPC's agents in connection with the sale of the Series B Bonds.
ALPC owns a 185 MW two-turbine hydroelectric generation station located near Castlegar, British Columbia that is connected to the British Columbia Hydro and Power Authority power grid.
ALPC is 50 per cent owned by Columbia Power Corporation and 50 per cent owned by CBT Arrow Lakes Power Development Corp., an indirect wholly owned subsidiary of Columbia Basin Trust.
Bull, Housser & Tupper LLP acted for ALPC with a team that included Greg Lewis (corporate); Marion Shaw and Kate Bickerton (securities); Michael Welters (tax) and Eric Kerr and Alex Fane (real estate).
Farris, Vaughan, Wills & Murphy LLP acted for the agents with a team that included Herb Dodd, Trevor Scott and Mohammad Manki.