Canadian Utilities Completes $325M Preferred Share Issue, Term Note Program

Canadian Utilities Limited completed a public offering of 13,000,000 4 per cent Cumulative Redeemable Second Preferred Shares Series Y at a price of $25 per share for aggregate gross proceeds
of $325,000,000.

The offering was completed through a syndicate of underwriters co-led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. and including TD Securities Inc. and Scotia Capital Inc.

In addition, on September 15, 2011, Canadian Utilities Limited established a medium term note program for the offering from time to time over the next 25 months of up to $1,000,000,000 principal amount of unsecured medium term notes.

Canadian Utilities Limited is an ATCO company that is based in Alberta. The company has assets of approximately $11 billion and more than 6,000 employees. It delivers service and business solutions worldwide with leading companies en-gaged in utilities (pipelines, natural gas and electricity transmission and distribution), energy (power generation, natural gas gathering, processing, storage and liquids extraction) and technologies (business systems solutions).

Canadian Utilities Limited was represented by Bennett Jones LLP with a team led by Will Osler and that included Kahlan Mills and Amanda Coen.

The underwriting syndicate was represented by Blake, Cassels & Graydon LLP with a team led by Pat Finnerty and that included Melissa Cook and Chris Salamon.


Pat C. Finnerty Chris Salamon Kahlan K. Mills William S. Osler Amanda M. Coen Melissa Cook