Gaz Métro said that it has entered into an agreement to sell to certain institutional investors in the United States on a private placement basis U.S.$200 million aggregate principal amount of 4.04% senior secured notes due 2043 and 4.19% senior secured notes due 2048.
The Notes will be secured by a guarantee as to payment of principal and interest by Gaz Métro Limited Partnership, together with collateral security backed by the assets of GMi and Gaz Métro.
Proceeds from the private placement will be loaned by GMi to Gaz Métro on substantially similar terms as to interest rate and maturity, and will be used by Gaz Métro for the refinancing of existing debt and for general corporate purposes. The funding of the Notes is anticipated to occur prior to April 30, 2013.
The Notes have not been registered under the U.S. Securities Act of 1933, as amended or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.
[mappress] LNG World News Staff, February 08, 2013