October 25, 2011 / 4:28 PM / 7 years ago

Westcoast Energy sells C$300 mln debt in 2 parts

Oct 25 (Reuters) - Westcoast Energy on Tuesday sold C$300 million ($297 million) of notes in two parts, according to a term sheet seen by Reuters.

The sale consisted of C$150 million ($149 million) 10-year notes, due Oct. 28, 2021. The notes have a 3.883 percent coupon rate and were priced at par to yield 157.4 basis points over the Canadian government benchmark.

The sale also included C$150 million ($149 million) of 30-year notes, due Oct. 28, 2041, with a coupon rate of 4.791 percent and were priced at par to yield 182 basis points over the Canadian government benchmark.

Westcoast Energy Inc is a unit of Spectra Energy .

The investment dealer arms of Bank of Nova Scotia, and Canadian Imperial Bank of Commerce were the bookrunning managers of the sale.

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