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HALIFAX, June 7, 2012 /CNW/ - (TSX: EMA) (TSX: EMA.PR.A): Emera announced today that it has completed its public offering of ten million Cumulative Rate Reset First Preferred Shares, Series C for aggregate gross proceeds of $250 million. The offering was first announced on May 29, 2012 when Emera entered into an agreement with a syndicate of underwriters in Canada led by Scotiabank, RBC Capital Markets and TD Securities Inc.
The net proceeds of the offering will be used for general corporate purposes.
This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
Forward Looking Information
This news release contains forward looking information. Actual future results may differ materially. Additional financial and operational information is filed electronically with various securities commissions in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR).
Emera Inc. is an energy and services company with $7.0 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 and in California. 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 and EMA.PR.A. Additional information can be accessed at www.emera.com, www.sedar.com, or on www.sec.gov.
For further information:
Jill MacDonald, CA
Manager, Investor Relations
Director, Corporate Communications