Date Closed

October 3, 2023

Lead Office

Calgary

Value

300.00 Million CAD

On October 3, 2023, EPCOR Utilities Inc. ("EPCOR") has completed a public offering in Canada of unsecured medium term note debentures in the aggregate principal amount of C$300 million. The notes have a coupon rate of 5.326%, and mature on October 3, 2053. Net proceeds will be used for general corporate purposes, including repayment of existing indebtedness and financing the Corporation's capital expenditure program and working capital requirements.  The offering was made in Canada under EPCOR's previously filed short form base shelf prospectus dated December 7, 2021. National Bank Financial Inc. and TD Securities Inc. acted as co-leads and joint bookrunners for the syndicate of agents which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., MUFG Securities (Canada), Ltd. and Merrill Lynch Canada Inc.

McCarthy Tétrault advised TD Securities Inc., as co-lead and joint bookrunner, with a team led by John Osler K.C. and Toby Allan that included Matthew Hooker (Business), Fred Purkey and Kalev Tamm (Tax).