Toronto Hydro Corporation completed a public offering of its Series 24 senior unsecured debentures, raising C$200 million. The Series 24 debentures carried an interest rate of 4.75% per annum and were set to mature on September 24, 2055. The issue price was C$999.52 per C$1,000 principal amount, with interest payable semi-annually on March 24 and September 24, beginning March 24, 2026.

The net proceeds to Toronto Hydro amounted to C$198,904,000, after accounting for a 0.50% dealers’ commission. The offering formed part of Toronto Hydro’s C$1.5 billion base shelf prospectus and was executed through a syndicate of investment dealers, including CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., TD Securities Inc., and National Bank Financial Inc. 

Norton Rose Fulbright Canada LLP acted as legal counsel to Toronto Hydro Corporation, while Blake, Cassels & Graydon LLP served as counsel to the dealers. The net proceeds from the offering were intended to reduce certain indebtedness under Toronto Hydro’s commercial paper program, the proceeds of which had been used for general corporate purposes.