UPDATE 1-Algonquin to buy hydro-power assets from Integrys

* Says to acquire hydroelectric generation assets

* To sell about 6 mln shares to raise C$20 mln

* Offering at C$3.35/shr, 5 pct discount to Tuesday close

* To sell C$55 mln principal amount of debentures

Nov 10 (Reuters) - Algonquin Power and Utilities Corp (AQN.TO) said it agreed with Integrys Energy Services Inc (TEG.N) to buy certain power generation assets in New Brunswick and Maine.

The company said it will buy three hydroelectric generating stations, including the 34.5 MW Tinker Hydroelectric station located on the Aroostook River near the Town of Perth-Andover, New Brunswick.

It will also buy five legacy thermal stations and certain transmission lines near the generating facilities, it said in a statement.

The company, which operates a portfolio of clean, renewable power generation and utility infrastructure assets across North America, said the hydro plants are interconnected to access the north-eastern electricity markets of Northern Maine, New Brunswick and New England.

Separately, Algonquin said it will raise C$75 million by selling shares and convertible debentures, partly to reduce its existing senior short-term bank credit facilities and to finance the hydroelectric generating facility acquisition.