CALGARY, June 26, 2014 /CNW/ - Enerplus Corporation ("Enerplus") (TSX:
ERF) (NYSE: ERF) is pleased to announce that it has entered into
agreements for an offering of senior unsecured notes (the "Notes") to
be issued on a private placement basis to institutional investors in
the United States (the "Private Placement") in an aggregate principal
amount of US$200 million.
The Notes have a 12 year amortizing term with a ten year average life
and a fixed-rate coupon of 3.79%. The Notes are unsecured and rank
equally with the Company's bank credit facility and other outstanding
senior notes. Subject to the satisfactory completion of customary
closing conditions, the Private Placement is expected to close on
September 3, 2014. Enerplus intends to use the proceeds to repay
outstanding bank debt, replacing short-term, floating interest rate
debt with long-term debt at an attractive fixed interest rate.
The Notes to be issued pursuant to the Private Placement have not been
and will not be registered under the United States Securities Act of
1933, as amended (the "Securities Act") and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act.
Citigroup Global Markets Inc. acted as the exclusive placement agent in
connection with the Private Placement.
Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words
such as "expects", "projects", "plans" and similar expressions, are
forward-looking information that represents management of Enerplus'
internal projections, expectations or beliefs concerning, among other
things, the proposed closing of the offering of senior unsecured notes
and repayment of bank indebtedness with the proceeds thereof. The
projections, estimates and beliefs contained in such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause Enerplus' actual performance and
financial results in future periods to differ materially from any
projections of future performance or results expressed or implied by
such forward-looking statements. These risks and uncertainties include
the risk that such offering may not close on the terms or the timeframe
indicated, or at all. Accordingly, holders of Enerplus shares and
potential investors are cautioned that events or circumstances could
cause results to differ materially from those predicted.
Ian C. Dundas
President & Chief Executive Officer
SOURCE: Enerplus Corporation
For further information:
For further information, including financial and operating results and our most recent corporate presentation, please visit our website at www.enerplus.com, or phone 1-800-319-6462.