Hydro One Inc. Prices Offering of $1.6 Billion Medium Term Notes under Sustainable Financing Framework

Executive Summary

• Hydro One Inc. priced a $1.6 billion medium‑term note offering (Series 64 and Series 65) with net proceeds of approximately $1.59 billion.
• The notes are issued at slight discounts to par ($99.939 for the 3.90% Series 64 due 2033; $99.888 for the 4.80% Series 65 due 2056).
• Proceeds will be allocated, in whole or in part, to finance and/or refinance eligible green projects under Hydro One’s Sustainable Financing Framework, with any interim use subject to internal liquidity policies.

Key Details

• Total Offering Size: $1.6 billion aggregate principal amount.
• Series 64 Notes: $1.2 billion principal; 3.90% coupon; due 2033; priced at $99.939 per $100 of principal.
• Series 65 Notes: $400 million principal; 4.80% coupon; due 2056; priced at $99.888 per $100 of principal.
• Net Proceeds: Approximately $1.59 billion after pricing discounts.
• Closing Date: Expected on November 21, 2025.
• Use of Proceeds: Intended to finance/refinance new or existing eligible green projects under the 2024 Sustainable Financing Framework; interim use may include repayment of indebtedness, bank deposits, or other cash equivalents per liquidity policies.
• Offering Mechanics: Best‑efforts basis across Canadian provinces via a syndicate of agents; issued pursuant to a short‑form base shelf prospectus dated February 28, 2024 with pricing supplements filed in each province.
• Regulatory Notices: Offering not registered in the United States; subject to applicable Canadian securities regulations and the terms of the trust indenture governing the notes.

Notable Quotes

(No direct quotes were provided in the release.)