Emera Completes $200 Million Preferred Share Financing
HALIFAX, Nova Scotia— Emera Incorporated (“Emera”) (TSX:EMA) announced today that it completed its bought deal offering of 8,000,000 Cumulative Minimum Rate Reset First Preferred Shares, Series J (the “Series J Shares”) at a price of $25.00 per share for aggregate gross proceeds of $200 million. The syndicate of underwriters was led by Scotiabank and RBC Capital Markets, as joint bookrunners, and also included CIBC Capital Markets, TD Securities Inc., BMO Capital Markets and National Bank Financial Inc. The net proceeds of the offering will be used for general corporate purposes. The Series J Shares will be listed on the Toronto Stock Exchange under the symbol EMA.PR.J.
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.
Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.
Ken McOnie, VP, Investor Relations and Treasurer
Erin Power, Director, Investor Relations