Canadian Hydro closes private placement of C$75.9 m

Calgary, Canada - Canadian Hydro Developers, Inc. has closed a private placement issuance of C$75.9 million in unsecured corporate debentures with a 10-year term, maturing on June 11, 2018, bearing interest at a combined rate of 7.07% per annum.

Scotia Capital Inc. and BMO Nesbitt Burns Inc. acted as co-lead agents and joint book runners for the offering, along with a syndicate of agents, which also included National Bank Financial Inc. and TD Securities Inc. The Company plans to use the net proceeds from the sale of the Debentures to repay and retire its existing $72.3 million acquisition facility and for general corporate purposes.

Source: IWR Online, 16 Jun 2008