Emera closes $750-million (U.S.) note offering

Executive Summary

• Emera Inc. completed a $750 million aggregate principal amount offering of U.S.–dollar junior subordinated notes (Series A and Series B, both due 2056).
• The notes are fully guaranteed by Emera and its subsidiary Emera U.S. Holdings; they will not be listed on any exchange.
• Net proceeds are earmarked for general corporate purposes, including repayment of existing indebtedness.

Key Details

• Offering Size: $750 million aggregate principal amount.
• Series A Notes: $375 million principal, 6.650% fixed‑to‑fixed reset rate, due 2056.
• Series B Notes: $375 million principal, 6.850% fixed‑to‑fixed reset rate, due 2056.
• Guarantee: Fully and unconditionally guaranteed by Emera and Emera U.S. Holdings (EUSHI).
• Issuers: The notes were issued by an indirect wholly‑owned subsidiary of Emera; EUSHI is an indirect wholly‑owned subsidiary of Emera.
• Bookrunning Managers: J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., and Wells Fargo Securities LLC.
• Listing Status: Notes will not be listed on any securities exchange; no plans to seek quotation on a trading system.
• Use of Proceeds: General corporate purposes, principally to repay existing indebtedness.

Notable Quotes

(No executive quotes were provided in the release.)