Toronto Hydro Corp sells C$450 million debentures in 2 parts

April 4 Thu Apr 4, 2013 12:28pm EDT

April 4 (Reuters) - Toronto Hydro Corp on Thursday sold C$450 million ($446 million) of senior debentures in two parts, according to a term sheet seen by Reuters.

The sale included C$250 million ($278 million) of 2.91 percent series 8 senior debentures due April 10, 2023. This series was priced at 99.983 to yield 2.912 percent or 112 basis points over the Canadian government benchmark.

The company also sold C$200 million ($198 million) of 3.96 percent series 9 senior debentures due April 9, 2063. This series was priced at 99.892 to yield 3.965 percent or 152 bases points over the Canadian government benchmark.

The investment dealer arms of Royal Bank of Canada, and Canadian Imperial Bank of Commerce were the bookrunning managers of the sale.