Questions and Comments

Question / Comment:

How did Alectra fund its purchase of Hydro One Brampton? Did its municipal owners contribute funds?

Response:

Alectra issued $675 M of senior unsubordinated debt to large institutional investors to finance the purchase of Hydro One Brampton.

These investors are really debt-holders. They are not shareholders they have no decision-making authority, no board seats or votes. They receive loan payments, not dividends.

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