TriSummit Utilities Inc. Closes $150 Million Medium-Term Note Offering
Summary
Calgary, Alberta--(Newsfile Corp. - April 24, 2025) - TriSummit Utilities Inc. ("TSU") announced that it has completed its $150 million issuance of senior unsecured medium-term notes (the "Offering"). The notes carry a coupon rate of 4.48% and mature on April 24, 2032.Net proceeds from the Offering will be used (i) as to approximately $130 million, to repay amounts outstanding under TSUs Canadian syndicated revolving credit facility and Canadian operating credit facility, which amounts were incurred in the normal course of business to fund the working capital requirements of the Company, and (ii) as to the remainder, for general corporate purposes.The Offering was made through a syndicate of investment dealers co-led by RBC Capital Markets and TD Securities as joint bookrunners under TSUs Short Form Base Shelf Prospectus dated April 3, 2025 and Prospectus Supplement dated April 17, 2025.No securities regulatory authority has either approved or disapproved of the contents of this press release. There will be no public offering of securities in the United States.TSU is a North American company with natural gas distribution, transmission and storage utilities and renewable power generation assets. TSU serves approximately 292,000 customers across Canada and the United States, delivering energy safely and reliably.This press release contains forward-looking statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this press release, should not be unduly relied upon.