HALIFAX, July 27 /CNW/ - Today, Nova Scotia Power Inc. completed the issue of $200 million Series W Medium Term Notes. The Series W Notes bear interest at the rate of 5.95% and yield 5.974% per annum until July 27, 2039.
The Offering was made to the public through a syndicate of agents co-led by TD Securities Inc. and RBC Dominion Securities Inc., and included CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc. and National Bank Financial Inc.
The net proceeds of the Offering will be used to repay short term borrowings.
About Nova Scotia Power
Nova Scotia Power Inc. is the largest wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides more than 95% of the generation, transmission and distribution of electrical power to 483,000 customers in the province. The company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has 1,800 employees and $3.5 billion in assets.