Ontario Utility Readies C$250 Million Inaugural Debt Deal

An Ontario utility is preparing to raise around C$250 million ($180 million) in an inaugural debt deal as soon as Wednesday, according to people familiar with the matter.

Enova Power Corp.’s offering will likely carry a five-year maturity, with initial price discussion at around 75-80 basis points above government benchmarks, the people said, asking not to be identified as they aren’t authorized to speak publicly.