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Hydro One Inc. said that the Ontario Electricity Financial Corporation plans to sell some or all of its Hydro One debt in the public markets, starting in the first quarter of 2003.
OEFC, the funding agency for debt financing of electrical works in Ontario, holds about CAN$2.53 billion of Hydro One debt, which matures between 2003 and 2007.
The OEFC is the provincial agency responsible for servicing and retiring the former Ontario Hydro's provincially guaranteed debt and managing certain other legacy liabilities.
Hydro One, which has a total debt of CAN$4.6 billion of which CAN$2.05 billion is public debt, has also agreed to restructure some or all of the debt.
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