Press release from Marketwire
CU Inc. Announces Debenture Issue
Monday, November 15, 2010
CALGARY, ALBERTA-- (Marketwire - Nov. 15, 2010) - CU Inc. announced today that it will issue $125,000,000 of 4.947% Debentures maturing on November 18, 2050, at a price of $100.00 to yield 4.947%. This issue was sold by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., and TD Securities Inc. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness, and for other general corporate purposes of ATCO Electric Ltd.
CU Inc. is a wholly owned subsidiary of Canadian Utilities Limited, part of the ATCO Group of Companies. An Alberta-based corporation with assets of approximately $7 billion and more than 4,100 employees, CU Inc. is 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.canadian-utilities.com.
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Corporation believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
The Corporation's actual results could differ materially from those anticipated in the forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.
Any forward-looking information contained in this news release represent the Corporations' expectations as of the date hereof and are subject to change after such date. The Corporation disclaims any 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 under applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
B.R. (Brian) Bale CU Inc. Senior Vice President & Chief Financial Officer (403) 292-7502 www.canadian-utilities.com