- Project in Canada completed in December, selling power to IESO
- Dufferin wind farm uses turbines supplied by General Electric
China Longyuan Power Group Corp., the nation’s biggest wind-farm developer, completed a C$200 million ($153 million) bond offering for a 91.4-megawatt power plant in Canada, according to two people familiar with the deal.
The Bank of Nova Scotia, Citigroup Inc. and HSBC Holdings Plc led the deal, according to the two people, who asked not to be identified because they’re not authorized to discuss it.
The 18-year senior secured bonds for the Dufferin wind farm have a coupon of 4.317 percent, according to DBRS, the Toronto-based ratings company that rated the debt BBB, one level above junk, in a report Thursday.
The project in Dufferin County, Ontario, began operations in December and uses General Electric Co. turbines. It’s delivering electricity to the Independent Electricity System Operator of Ontario under a contract that ends in November 2034 -- one year after the bonds are scheduled to be fully repaid, according to DBRS.
A call to China Longyuan’s Dufferin Wind Power unit wasn’t returned Thursday.