Gaz Métro Completes Offering of First Mortgage Bonds

On June 18, 2009, Gaz Métro Inc. completed an offering of $100 million of 4.93 per cent Series L First Mortgage Bonds, which were assigned an A rating by Standard & Poor's Rating Services and DBRS Limited, under its $400 million MTN program established under a final short-form base shelf prospectus dated August 20, 2008.

The Series L Bonds were offered on an agency basis by a syndicate of dealers led by BMO Nesbitt Burns Inc., and including Desjardins Securities Inc., National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities inc., TD Securities Inc., Laurentian Bank Securities Inc. and Casgrain & Company Limited.

Gaz Métro was represented in-house by Pierre Despars, executive vice president and chief financial officer, Marc Lemieux, vice president, legal affairs and corporate secretary, Hélène St-Pierre, treasurer, Sylvie Bédard, assistant treasurer and Anne-Marie Gauthier, senior legal counsel, transactional law; and by Osler, Hoskin & Harcourt LLP, with a team that included Warren Katz, François Paradis and Josée Kouri (corporate and securities); Constantine Troulis (financial services) and Elaine Marchand (tax).

The dealers were represented by Lavery, de Billy L.L.P., with a team that included Marc Rochefort, Michel Servant and Guillaume Lavoie (corporate and securities) and Philip Nolan (tax).