06:21 AM EST, 12/10/2024 (MT Newswires) -- Hydro One Limited ( HRNNF ) , Ontario's largest electricity transmission and distribution company, overnight Monday announced that its wholly-owned subsidiary, Hydro One Inc., priced an offering of $750 million of Medium Term Notes consisting of an additional offer of $375 million aggregate principal amount of 4.46% Medium Term Notes, Series 55, due 2053 and an additional offer of $375 million aggregate principal amount of 4.25% Medium Term Notes, Series 60, due 2035.

A statement noted the additional Series 55 Notes will be issued at a price of $101.560 per $100.00 principal amount plus accrued interest, for a re-opening yield of 4.362%, and the additional Series 60 Notes will be issued at a price of $102.522 per $100.00 principal amount plus accrued interest, for a re-opening yield of 3.938%.

It said the net proceeds from the issuance of the additional Notes (excluding any accrued interest paid to Hydro One Inc. in connection with the re-opening of the Notes) will be approximately $762 million. The offering of the Notes is expected to close on December 11, 2024. Upon completion of the offering of the Notes, there will be $675 million aggregate principal amount of Series 55 Notes outstanding and $1.075 billion aggregate principal amount of Series 60 Notes outstanding.

Hydron One was down $0.71 or 1.5% at $45.94 yesterday.