Hydro One Issues MTNs

On January 31, 2003, Hydro One Inc. issued an aggregate principal amount of $300 million in 5.77 per cent series 3 notes due 2012 and an aggregate principal amount of $200 million of 6.35 per cent series 4 notes due 2034. Both issuances were pursuant to Hydro One’s existing medium term note programme.

Hydro One was represented by in-house counsel Rod Crown and Cassidy McFarlane, and by Douglas Marshall, Katy Waugh and Pei-Ching Huang of Osler, Hoskin & Harcourt LLP. Tim Unwin, Michael Gans, Erica Young and Ron Richler of Blake, Cassels & Graydon LLP represented the syndicate of dealers, led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc.