CALGARY,
AB, Sept. 11, 2023 /CNW/ - CU Inc.
(TSX: CIU.PR.A) (TSX: CIU.PR.C)
CU Inc. announced today that it will issue $340,000,000 of 5.088% Debentures maturing
on September 20, 2053, at a price of
$100.00 to yield 5.088%. This issue
was sold by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc.,
TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc.,
MUFG Securities (Canada), Ltd. and
ATB Capital Markets Inc. Proceeds from the issue will be used to
finance capital expenditures, to repay existing indebtedness and
for other general corporate purposes.
CU Inc. is a wholly-owned subsidiary of Canadian Utilities
Limited, an ATCO Company. CU Inc. is an Alberta-based corporation with approximately
3,700 employees and assets of $18
billion; comprised of rate regulated utility operations in
pipelines, natural gas and electricity transmission and
distribution. More information about CU Inc. can be found on the
Canadian Utilities Limited website at
www.canadianutilities.com.
Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President
Finance, Treasury & Sustainability
Colin.Jackson@atco.com
403 808 2636
Media Inquiries:
Kurt
Kadatz
Director, Corporate Communications
Kurt.Kadatz@atco.com
587 228 4571
Forward-Looking Information:
Certain statements contained in this news release may
constitute forward-looking information. In particular,
forward-looking information in this news release includes
references to the issuance of $340,000,000 of 5.088% Debentures and the
expected use of proceeds.
While it is believed that the expectations reflected in the
forward-looking information are reasonable based on the information
available on the date such statements are being made, such
statements are not guarantees of future performance and no
assurance can be given that these expectations will prove to be
correct. Forward-looking information should not be unduly relied
upon. By its nature, this information involves a variety of
assumptions, known and unknown risks and uncertainties, and other
factors, which may cause actual results, levels of activity, and
achievements to differ materially from those anticipated in such
forward-looking information. Forward-looking information in this
news release reflects beliefs and assumptions with respect to,
among other things: timing and needs of CU Inc.'s capital
programs.
Actual results could differ materially from those anticipated
in the forward-looking information as a result of, among other
things: applicable laws, regulations and government policies;
regulatory decisions; prevailing market and economic conditions;
the availability and cost of labour, materials, services, and
infrastructure; the development and execution of projects; prices
of electricity, natural gas, natural gas liquids, and renewable
energy; and other risk factors, many of which are beyond CU Inc.'s
control. Readers are cautioned that the foregoing list is not
exhaustive. For additional information about the principal risks
that CU Inc. faces, see "Business Risks and Risk Management" in CU
Inc.'s Management's Discussion and Analysis for the year ended
December 31, 2022.
Forward-looking information contained in this news release
represents expectations as of the date hereof, which may change
after such date. There is no intention or obligation to update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required by
applicable securities legislation.
SOURCE CU Inc.