Emera Incorporated

Emera Incorporated

November 26, 2012 07:26 ET

Emera Announces Bought Deal Offering of 5,135,000 Common Shares

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 26, 2012) -


Emera Incorporated ("Emera") (TSX:EMA) announced today that it has entered into an agreement with a syndicate led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank, under which they have agreed to purchase from Emera and sell to the public 5,135,000 Common Shares of Emera. The underwriters will also have the option to purchase up to an additional 770,250 Common Shares to cover over-allotments, if any, and for market stabilization purposes, during the 30 days following the closing of the offering (the "Over-Allotment Option").

The purchase price of $34.10 per Common Share will result in gross proceeds to Emera of $175.1 Million ($201.4 Million, if the Over-Allotment Option is exercised in full). The net proceeds of the offering will be used for general corporate purposes, including reducing indebtedness outstanding under Emera's credit facility.

The offering is subject to the receipt of all necessary regulatory and stock exchange approvals. Closing is expected to occur on or about December 14, 2012.

The Common Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the 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. Actual future results may differ materially. Additional information related to Emera, including the company's Annual Information Form, can be found on SEDAR at www.sedar.com.

About Emera

Emera Inc. is an energy and services company with $7.4 billion in assets and 2011 revenues of $2.1 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 interests throughout northeastern North America, in three Caribbean countries. More than 80% of the company's earnings come 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, and EMA.PR.C. Additional information can be accessed at www.emera.com or at www.sedar.com.

Contact Information

  • Emera Incorporated
    Jill MacDonald, CA
    Manager, Investor Relations
    (902) 428-6486