Enerplus (ERF) Prices Aggregate $405M Unsecured Senior Note Offerings
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Enerplus Corporation (NYSE: ERF) is pleased to announce that we have priced a proposed offering of senior unsecured notes to be issued on a private placement basis in the United States and Canada (the "Private Placement") with an aggregate principal amount of approximately US$405 million.
The notes to be issued pursuant to the Private Placement are scheduled to be issued in three separate tranches as follows:
The notes 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 proposed Private Placement.
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The notes to be issued pursuant to the Private Placement are scheduled to be issued in three separate tranches as follows:
- US$355 million at 4.40% with a 12 year amortizing term with principal payments required in five equal annual instalments beginning in 2020;
- US$20 million at 4.40% with a 10 year bullet term;
- CDN$30 million at 4.34% with a 7 year bullet term.
The notes 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 proposed Private Placement.
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