Hydro One Inc. in its $1.1 billion offering of Medium Term Notes

On February 28, 2020, Hydro One Inc., a wholly-owned subsidiary of Hydro One Limited, completed a $1.1 billion multi-tranche offering of Medium Term Notes, consisting of $400 million aggregate principal amount of 1.76% Medium Term Notes, Series 45, due 2025, $400 million aggregate principal amount of 2.16% Medium Term Notes, Series 46, due 2030 and $300 million aggregate principal amount of 2.71% Medium Term Notes, Series 47, due 2050. The Notes were offered on a best efforts basis in each of the provinces of Canada through a syndicate of agents.

Hydro One Limited, through its wholly-owned subsidiaries, is Ontario’s largest electricity transmission and distribution provider with approximately 1.4 million valued customers, approximately $27.1 billion in assets as at December 31, 2019, and annual revenues in 2019 of approximately $6.5 billion.

Osler, Hoskin & Harcourt LLP advised Hydro One with a team consisting of Michael Innes, Rosalind Hunter, Amelia Miao and Blake Binions (Corporate) and David Davachi (Tax).