Toronto Hydro Issues $250M Series 3 Debentures Under Its $1B MTN Program

On November 12, 2009, Toronto Hydro Corporation completed a public offering of $250 million 4.49 per cent senior unsecured debentures due 2019 (Series 3). The Series 3 Debentures were issued under the corporation's $1-billion MTN Program established in December 2008.

BMO Nesbitt Burns Inc. served as the lead agent and bookrunner on the offering and the other syndicate members included CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.

McMillan LLP acted for Toronto Hydro under the direction of in-house counsel Lawrence Wilde, vice president, general counsel and secretary and Norman Kribs. The McMillan team included Sean Farrell, Mary-Ann Haney, Wendy Chun and Carl Irvine.

Blake, Cassels & Graydon LLP acted for the dealers with a team including Kenneth Pearce, Chris Javornik, Leslie Wong, Ron Richler and Ali Naushahi.