Caribbean Utilities Company, Ltd. Closes 5.88% Senior Unsecured Notes Due November 15, 2052
November 15, 2022 at 08:02 pm EST
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Caribbean Utilities Company, Ltd. announced the closing of USD 80 million 5.88% Senior Unsecured Notes due November 15, 2052. The debt offering was privately placed with institutional investors in the United States with RBC Capital Markets acting as sole placement agent. Proceeds from the offering will be used to repay short-term indebtedness and to finance ongoing additions and upgrades to CUC's generation and transmission and distribution systems.
Caribbean Utilities Company, Ltd. is a Cayman Islands-based company engaged in generating, transmitting, and distributing electricity in its license area of Grand Cayman, Cayman Islands. The Company uses diesel generation to produce electricity for Grand Cayman. Its power system consists of 20 generating units, including 17 diesel engines, two gas turbines and one steam turbine with a combined capacity of approximately 166 megawatts (MW). In addition, it has four mobile units each with a capacity of about 1.5 MW. Its transmission and distribution system consists of about eight transformer substations, approximately 387 miles of overhead high-voltage (69 kilovolt and 13 kilovolt) and 53.8 miles of underground high-voltage (69 kilovolt and 13 kilovolt) T&D lines and 14 miles of high-voltage submarine cable in Grand Cayman. Its generating plant, transformer substations, office building, hurricane center, warehouse, fuel tanks and garage are all located on approximately 28.6 acres of land.
CARIBBEAN UTILITIES COMPANY, LTD. 
