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Gaz Métro Announces A Private Placement Of Senior Secured Notes

MONTREAL, Feb. 5, 2013 /CNW Telbec/ - Gaz Métro inc. (" GMi") announced today that it has entered into an agreement to sell to certain institutional investors in the United States on a private placement basis U.S. $200 million aggregate principal amount of 4.04% senior secured notes due 2043 and 4.19% senior secured notes due 2048 (together, the " Notes"). The Notes will be secured by a guarantee as to payment of principal and interest by Gaz Métro Limited Partnership (" Gaz Métro"), together with collateral security backed by the assets of GMi and Gaz Métro.

Proceeds from the private placement will be loaned by GMi to Gaz Métro on substantially similar terms as to interest rate and maturity, and will be used by Gaz Métro for the refinancing of existing debt and for general corporate purposes. The funding of the Notes is anticipated to occur prior to April 30, 2013.

The Notes have not been registered under the U.S. Securities Act of 1933, as amended (the " Securities Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.

Overview of Gaz Métro and GMi

GMi mainly holds an economic interest of approximately 71% in Gaz Métro, for which it acts as the General Partner and a financing vehicle.

With more than $5 billion in assets, Gaz Métro is a leading energy provider. It is the largest natural gas distribution company in Quebec, where its 10,000 km underground network of pipelines serves 300 municipalities and more than 185,000 customers. Gaz Métro is also present in Vermont, producing electricity and distributing electricity and natural gas to cater to the needs to some 300,000 customers. Gaz Métro is actively involved in the development of innovative, sustainability-oriented energy projects such as the production of wind power, the use of natural gas as a transportation fuel and the development of biomethane as a renewable energy source. Gaz Métro is committed to ensuring the satisfaction of its customers, providing support to businesses, local organizations, families and communities, and meeting the needs of its partners (Gaz Métro inc. and Valener) and employees. www.gazmetro.com

SOURCE GAZ METRO

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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