PowerStream completes private placement offering of $150 million aggregate principal amount of senior unsecured Series B Debentures

1 minute read
21 November 2014

On November 21, 2014, PowerStream Inc. completed its private placement offering of $150 million principal amount of senior unsecured Series B Debentures that will come due on November 21, 2024, and will bear interest at the rate of 3.239% per year.

The Series B Debentures were sold on an agency basis through a syndicate led by BMO Nesbitt Burns Inc. and including TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.

PowerStream is a municipally-owned energy company that provides power and related services to more than 350,000 customers residing or owning a business in 15 communities located immediately north of Toronto and in Central Ontario. It is jointly owned by the Cities of Barrie, Markham and Vaughan.

Gowlings was counsel to PowerStream in this transaction with a team led by Robert Hull and including Christine Mason and Kelby Carter.

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