Hydro One Inc. prices $1 billion inaugural US senior notes offering

Hydro One Inc., a subsidiary of Hydro One Limited (TSX: H), has priced its inaugural offering of $1.0 billion aggregate principal amount of 4.750% senior notes due May 30, 2031. The offering is expected to close on or about May 26, 2026, subject to customary closing conditions.

The company plans to use the net proceeds to repay certain maturing long-term debt and short-term indebtedness, including commercial paper, and for general corporate purposes. The senior notes will be unsecured and rank equally with Hydro One Inc.'s existing senior unsecured debt.

The notes are being publicly offered in the United States through a syndicate of underwriters. Barclays Capital Inc., Mizuho Securities USA LLC and RBC Capital Markets, LLC serve as joint book-running managers for the offering.

Hydro One Inc. will file a final prospectus supplement to its short form base shelf prospectus dated August 18, 2025 with the Ontario Securities Commission. This forms part of Hydro One Inc.'s effective registration statement on Form F-10 filed with the Securities and Exchange Commission under the multijurisdictional disclosure system.

The senior notes have not been qualified for distribution in Canada by prospectus and are being offered in Canada only on a private placement basis pursuant to exemptions from prospectus requirements under Canadian securities laws.

Hydro One Limited is Ontario's largest electricity transmission and distribution provider with 1.5 million customers, $39.7 billion in assets as of December 31, 2025, and annual revenues in 2025 of $9 billion. The company operates through its wholly-owned subsidiaries and employs 9,600 people.

You May Also Be Interested In

• TWO Announces Adjournment of Special Meeting
• Avalo Therapeutics adds Ron Philip to its board of directors
• Revolution Medicines starts Phase 3 trial of zoldonrasib for pancreatic cancer