On May 17, 2011, Lower Mattagami Energy Limited Partnership (the Partnership) issued, by way of private placement, C$225 million aggregate principal amount of 4.331% Series 2011-3 Senior Secured Bonds, due May 18, 2021 and C$250 million aggregate principal amount of 5.139% Series 2011-4 Senior Secured Bonds, due May 18, 2041 (the bonds). Each series of bonds was offered for sale on a best efforts basis by a syndicate of agents co-led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and including HSBC Securities (Canada) Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
The Partnership is a limited partnership between Ontario Power Generation Inc. (OPG), as the sole general partner, and LM Energy Inc., a wholly-owned subsidiary of OPG, as sole limited partner.
The net proceeds of the offering will be used to fund the re-development and expansion of four hydroelectric generating stations on the lower part of the Mattagami river in northeastern Ontario.
Further information is found on Canada Newswire.