Hydro-Quebec issues C$500 mln of debentures

TORONTO, Nov 6 (Reuters) - Hydro-Quebec, one of Canada's largest utilities, said on Friday it would issue C$500 million ($463 million) of debentures in the domestic market.

The 5 percent debentures, due Feb. 15, 2050, will be offered at C$103.36, plus interest accrued from Aug. 15, giving them a yield of 4.81 percent.

The provincially owned utility said the lead manager for the issue is the investment dealer arm of National Bank of Canada (NA.TO), with its peers at Royal Bank of Canada (RY.TO) and Bank of Nova Scotia (BNS.TO) acting as co-lead managers.

The utility said the total amount of debentures outstanding under this series is now C$1.5 billion.

Hydro-Quebec announced last month it will buy most of the assets of debt-laden New Brunswick Power in a C$4.75 billion deal that will give it better access to power-hungry markets in the U.S. Northeast. [ID:nN29356252]

($1=$1.08 Canadian) (Reporting by Jeffrey Hodgson; editing by Peter Galloway)