Horizon Holdings Inc. completes C$150 million pivate placement offering of debentures

Closing Date: 7/25/2012

Value: C$150 million 

On July 25, 2012, Horizon Holdings Inc. (Horizon), the parent company of Horizon Utilities Corporation, which distributes electricity in the cities of Hamilton and St. Catharines, Ontario, issued $150 million principal amount of 3.033 per cent Senior Unsecured Debentures, Series B due July 25, 2022 (the Debentures) on a private placement basis. CIBC World Markets Inc. was the lead agent and bookrunner for the offering and BMO Nesbitt Burns Inc. and Scotia Capital Inc. were also in the syndicate.

The net proceeds of the Debentures were used by Horizon to repay intercompany indebtedness owing to Hamilton Utilities Corporation, the majority shareholder of Horizon, due July 30, 2012, and for general corporate purposes.

Horizon was represented by BLG with a team consisting of Linda Bertoldi, Paul Findlay, Gus Karantzoulis, Dyana McLellan and Mark Lau.