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

Executive Summary

• Emera Incorporated completed a $750 million aggregate principal amount offering of 6.25% fixed‑to‑fixed reset rate junior subordinated notes due 2056.
• The notes are fully and unconditionally guaranteed by Emera Inc. and Emera U.S. Holdings Inc.; issuance was led by a consortium of ten joint book‑running managers.
• Net proceeds will be used for general corporate purposes, including repayment of existing indebtedness.

Key Details

• Offering Size: $750 million aggregate principal amount of USD‑denominated junior subordinated notes.
• Interest Rate / Structure: 6.25% fixed‑to‑fixed reset rate; maturity in 2056.
• Guarantees: Fully and unconditionally guaranteed by Emera Inc. and Emera U.S. Holdings Inc.
• Issuer Relationship: Eushi Finance Inc., a direct and indirect wholly owned subsidiary of Emera, acted as the issuer; the notes were issued through its direct wholly‑owned subsidiary.
• Book‑Running Managers: Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., BMO Capital Markets Corp., BofA Securities Inc., CIBC World Markets Corp., TD Securities (USA) LLC, and Truist Securities Inc.
• Use of Proceeds: Net proceeds earmarked for general corporate purposes, notably repayment of existing indebtedness.

Notable Quotes

(No executive quotes were provided in the release.)