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Canadian Utilities Announces Preferred Share Issue

Canadian Utilities Limited (CU.TO) has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets, and including TD Securities Inc. and Scotiabank. The underwriters have agreed to buy 6,000,000 4.50% Cumulative Redeemable Second Preferred Shares Series CC at a price of $25 per share for aggregate gross proceeds of $150 million.

The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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