EPCOR Utilities Inc. announced and closed its $300 million Medium-Term Note Debentures issuance on October 3, 2023. The notes carry a 5.326% interest rate and mature on October 3, 2053. Issued at par ($100.00 per $100 principal amount), the offering generated net proceeds of $298.5 million after a 0.50% agents' commission. The debentures allow redemption at a price based on the Canada Yield Price formula or par value after April 3, 2053. Interest payments are scheduled semi-annually, beginning April 3, 2024.

The transaction was managed by a syndicate of agents comprising National Bank Financial, TD Securities, RBC Dominion Securities, BMO Nesbitt Burns, CIBC World Markets, Scotia Capital, MUFG Securities (Canada), and Merrill Lynch Canada.

Legal advisors included Norton Rose Fulbright Canada LLP representing EPCOR and McCarthy Tétrault LLP advising the agents.