Emera completes $750 million subordinated notes offering

Emera Incorporated (TSX/NYSE: EMA) announced that its subsidiary EUSHI Finance, Inc. completed the sale of $750 million in junior subordinated notes due 2056. The notes carry a 6.25% fixed-to-fixed reset rate and are guaranteed by Emera and Emera US Holdings Inc.

The offering was managed by a consortium of investment banks including Wells Fargo Securities, J.P. Morgan Securities, Morgan Stanley, MUFG Securities Americas, RBC Capital Markets, Scotia Capital (USA), BMO Capital Markets Corp., BofA Securities, CIBC World Markets Corp., TD Securities (USA), and Truist Securities.

Emera stated it intends to use the net proceeds for general corporate purposes, including repaying existing debt. The notes will not be listed on any securities exchange or quotation system.

The Halifax-based energy company operates regulated electric and natural gas utilities serving approximately 2.6 million customers across the United States, Canada and the Caribbean. Emera employs about 7,600 people and trades on both the Toronto Stock Exchange and New York Stock Exchange.

The information is based on a company press release statement.

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