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HRNNF - Hydro One Limited launches $425M debt offering
Hydro One Ltd
Hydro One Limited (HRNNF) has priced $425M of 1.41% notes due October 15, 2027.Net proceeds will be ~$423.3M and intends to use it to fund the previously announced redemption on November 20, 2020 of Series 1 Preferred Shares and for general corporate purposes.Offering of the Notes is expected to close on October 15, 2020.This debt offering is expected to optimize the company's capital structure and lower its funding costs.