Emera Issues US$750 Million of Senior Notes at 4.500% and 5.200%
Emera closed a US$750 million senior notes offering, issuing US$450 million of 4.500% notes due 2029 and US$300 million of 5.200% notes due 2033. Proceeds will fund general corporate purposes, including repayment of existing indebtedness.
1. Offering Details
Emera US Finance, LLC completed the sale of US$750 million aggregate principal amount of senior notes, comprising US$450 million of 4.500% notes due 2029 and US$300 million of 5.200% notes due 2033, with joint book-running managers including Morgan Stanley, J.P. Morgan, MUFG, RBC, Scotia Capital and Wells Fargo.
2. Use of Proceeds
Net proceeds are earmarked for general corporate purposes, notably repayment of existing indebtedness, which may improve Emera’s liquidity position and optimize its debt maturity schedule.
3. Guarantee and Issuer Structure
The notes are fully and unconditionally guaranteed by Emera and its subsidiary Emera US Holdings Inc., issued by an indirect wholly-owned subsidiary, and will not be listed on any exchange or publicly distributed in Canada without exemptions.