Mr. Dennis DeChamplain reports
CU INC. ANNOUNCES DEBENTURE ISSUE
CU Inc. will issue $430-million of 3.548 per cent debentures maturing on Nov. 22, 2047, at a price of $100 to yield 3.548 per cent. This issue was sold by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Scotia Capital Inc. and CIBC World Markets Inc. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness, and for other general corporate purposes of Atco Electric Ltd. and Atco Gas and Pipelines Ltd.
CU Inc. is a wholly owned subsidiary of Canadian Utilities Ltd., an Atco Company. CU is an Alberta-based corporation with approximately 4,100 employees and assets of $15-billion comprising rate-regulated utility operations in pipelines, natural gas, and electricity transmission and distribution.
We seek Safe Harbor.
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