EPCOR Utilities Completes Secondary Offering of Common Shares of Capital Power

EPCOR completed its sale of 9,200,000 common shares of Capital Power at an offering price of $24.40 per common share for aggregate gross proceeds to EPCOR of $224,480,000. The aggregate offering was comprised of an offering of 8,200,000 common shares at $24.40 per share together with the underwriters' exercise of an over-allotment option for the sale of an additional 1,000,000 common shares at $24.40 per share.

The underwriting syndicate for the offering was co-led by CIBC World Markets Inc. and RBC Capital Markets.

EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States.

Capital Power is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,300 megawatts of power generation capacity at 16 facilities across North America. An additional 487 megawatts of owned wind generation capacity is under construction or in advanced development in British Columbia, Alberta and Ontario.

EPCOR Utilities Inc. was represented by its in-house legal team of General Counsel Ron Liteplo, Dana Bissoondatt and Adam Sanderman, and by Macleod Dixon LLP (now Norton Rose Canada LLP), with a team in Calgary that included Don Tse and Peter Allegretto (securities).

Capital Power was represented by its in-house legal team of Patricia Leeson and Bruce McPherson, and by Fraser Milner Casgrain LLP, with a team in Calgary that included Bill Gilliland, Toby Allan and Keith Inman (securities) and Anne Calverley, QC (tax).

The underwriting syndicate was represented by Osler, Hoskin & Harcourt LLP, with a team in Toronto including Desmond Lee, Blair Wiley, Courtney Ashton and Lindsay Offner (securities).