Hydro Mississauga Anounces $150M Debt Financing

Hydro Mississauga Corporation (the newly incorporated entity which has continued the business of the Mississauga Hydro Electric Commission) has announced the placement of a $150 million debt financing with CIBC. This is understood to represent the first bank financed re-capitalization of an incorporated municipal electrical utility resulting from the passing of the Energy Competition Act 1998.

Fraser Milner’s William Houston (Energy & Public Utilities), Jeffery Barnes (Corporate Securities), Yvonne McAndrew (Financial Services) and Brian Carr (Corporate Tax) acted for Hydro Mississauga Corporation. David Keys and James Shanks of Blake, Cassels & Graydon LLP acted for CIBC.