Hydro Ottawa Holding Inc. (“Hydro Ottawa”), the largest local electricity distribution company (“LDC”) in eastern Ontario and the third-largest municipally-owned LDC in Ontario, issued $150-million aggregate principal amount of 3.991 per cent senior unsecured debentures – series 2013-1 due May 14, 2043 – on a private placement basis.
Scotia Capital Inc. and BMO Nesbitt Burns Inc. were joint lead agents and bookrunners for the offering, and CIBC World Markets Inc. was also in the syndicate.
Gowling Lafleur Henderson LLP represented Hydro Ottawa with a team that included Guy David and Anthony Rasoulis. Paul Hughes, general counsel of Hydro Ottawa, provided support and direction to the Gowlings team.
Blake, Cassels & Graydon LLP represented the agents with a team that included Brendan Reay and Amanda Lazier.