HALIFAX, Oct. 20 /CNW/ - Today, Emera Inc. completed the issue of $250 million Series F Medium Term Notes. The Series F Notes bear interest at the rate of 4.10% and yield 4.108% per annum until October 20, 2014.
The Offering was made to the public through a syndicate of agents co-led by Scotia Capital Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc. and National Bank Financial Inc.
The net proceeds of the Offering will be used to repay short term indebtedness and for general corporate purposes.
Emera Inc. (EMA-TSX) is an energy and services company with $5.3 billion in assets. Electricity is Emera's core business. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 600,000 customers. Emera also owns 19% of St. Lucia Electricity Services Limited, which serves more than 50,000 customers on the Caribbean island of St. Lucia and 25% of Grand Bahama Power Company which serves 19,000 customers on the Caribbean island of Grand Bahama. In addition to its electric utility investments, Emera owns the Brunswick Pipeline, a 145 km gas pipeline in New Brunswick; Bayside Power, a 260 MW gas-fired power plant in Saint John, New Brunswick; Emera Energy Services, a physical natural gas and power marketing and asset management business; a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline; a 8.2% interest in Open Hydro. Visit Emera on the web at www.emera.com.
SOURCE Emera Inc.
For further information: For further information: Nancy Tower, FCA, Chief Financial Officer, Emera Inc., (902) 429-6991, firstname.lastname@example.org; Jennifer Nicholson, CA, Director, Investor Relations and Strategic Development, Emera Inc., (902) 428-6347, email@example.com