Arrow Lakes Power Completes Offering

On August 28, 2003, Arrow Lakes Power Corporation, a company owned jointly by B.C.-based Columbia Power Corporation and Columbia Basin Trust, completed a $100 million offering of 5.39 per cent series A bonds due 2015. The proceeds of the offering were used to refinance expenditures made to construct the Arrow Lakes Generating Station, a new 185 megawatt hydroelectric station on the Columbia River in B.C., and the related 48 kilometre transmission line. The bonds were sold to institutional investors by private placement. RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. acted as agents.

Arrow Lakes Power was represented by Bull, Housser & Tupper in Vancouver, with a team that included Marion Shaw, Greg Lewis and Joanna Cameron. The agents were represented by Farris, Vaughan, Wills & Murphy in Vancouver, with a team that included Herb Dodd, Candy Saga and David Selley.