TriSummit Utilities Inc. Announces $150 Million Medium-Term Note Offering
Summary
TriSummit Utilities Inc. (TSU) announced that it has agreed to issue $150 million of senior unsecured medium-term notes (Offering). The notes carry a coupon rate of 4.48% and mature on April 24, 2032. The Offering is expected to close on or about April 24, 2025.The net proceeds resulting from the Offering will be used (i) as to approximately $130 million, to repay amounts outstanding under TSUs Canadian syndicated revolving credit facility and associated 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 is being 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.