CANADIAN UTILITIES LIMITED ANNOUNCES DEBENTURE ISSUE

CALGARY, AB, May 31, 2022 /CNW/ - Canadian Utilities Limited (TSX: CU, CU.X)

Canadian Utilities Limited announced today that it will issue $250,000,000 of 4.851% Debentures maturing on June 3, 2052, at a price of $100.00 to yield 4.851%. This issue was sold by BMO Nesbitt Burns Inc.,  RBC Dominion Securities Inc., TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc. and MUFG Securities (Canada), Ltd. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness and for other general corporate purposes.

With approximately 4,800 employees and assets of $21 billion, Canadian Utilities Limited is an ATCO company. Canadian Utilities is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions in Utilities (electricity and natural gas transmission and distribution, and international electricity operations); Energy Infrastructure (electricity generation, energy storage, and industrial water solutions); and Retail Energy (electricity and natural gas retail sales). More information can be found at www.canadianutilities.com.

Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President
Finance, Treasury, Risk & Sustainability
[e-mail]
403 808 2636

Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
[e-mail]
587 228 4571

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions.

Although the Company believes that the expectations reflected in the forward-looking information are reasonable, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By their nature, these statements involve a variety of assumptions,  known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.

The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions (including as may be affected by the COVID-19 pandemic), and other factors, many of which are beyond the control of the Company.  Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that the Company faces, see "Business Risks and Risk Management" in Management's Discussion and Analysis for the year-ended December 31, 2021. 

Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE Canadian Utilities Limited

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