07:10 AM EDT, 08/16/2024 (MT Newswires) -- Hydro One ( HRNNF ) overnight Thursday said that its subsidiary has priced an offering of $1.2 billion of medium term notes under its sustainable financing framework.

The offering consists of $700 million of 4.25% medium term notes due 2035, issued at $99.963 per $100 principal amount; and an additional offering of $500 million of 4.85% medium term notes due 2054 issued at $103.315 per $100 principal amount plus accrued interest.

The offering is expected to close on August 20.

The company said it will aim to use the proceeds to fund eligible green projects under the 2024 Framework, but that "it will not be an event of default under the trust indenture governing the notes if the company fails to do so."