Emera Incorporated ("Emera") (TSX:EMA) announced today that
it has completed its public offering of eight million Cumulative Rate
Reset First Preferred Shares, Series F for aggregate gross proceeds of
$200 million. The offering was first announced on May 29, 2014 when
Emera entered into an agreement with a syndicate of underwriters in
Canada led by Scotiabank. The net proceeds of the offering will be used
for general corporate purposes, including repayment of indebtedness
under Emera’s credit facilities.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
This media release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer,
solicitation or sale of the securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Information
This news release contains forward-looking information with respect to
Emera and the offering of the Series F Preferred Shares, including
statements regarding the use of proceeds of the offering. By its nature,
forward-looking information requires Emera to make assumptions and is
subject to inherent risks and uncertainties. There is significant risk
that predictions, forecasts, conclusions and projections that constitute
forward-looking information will not prove to be accurate, that Emera’s
assumptions may not be correct and that actual results may differ
materially from such forward-looking information. Detailed information
about these assumptions, risks and uncertainties is included in Emera’s
securities regulatory filings, which can be found on SEDAR at sedar.com.
About Emera
Emera Inc. is a geographically diverse energy and services company
headquartered in Halifax, Nova Scotia with $9.29 billion in assets and
2013 revenues of $2.2 billion. The company invests in electricity
generation, transmission and distribution, as well as gas transmission
and utility energy services. Emera's strategy is focused on the
transformation of the electricity industry to cleaner generation and the
delivery of that clean energy to market. Emera has investments
throughout northeastern North America, and in four Caribbean countries.
Approximately 80% of the company's reported net income in 2013 came from
regulated investments. Emera common and preferred shares are listed on
the Toronto Stock Exchange and trade respectively under the symbol EMA,
EMA.PR.A., EMA.PR.C., and EMA.PR.E. Additional information can be
accessed at emera.com,
or on SEDAR at sedar.com.
Copyright Business Wire 2014