Emera Inc. said on Dec. 27 it completed its bought deal offering of roughly 14.6 million common shares at $47.90 per common share for aggregate gross proceeds of approximately $700 million.
The syndicate of underwriters was led by RBC Capital Markets, CIBC Capital Markets, Scotiabank (NYSE: BNS) and TD Securities Inc. (NYSE: TD), as joint bookrunners, and also included BMO Capital Markets, National Bank Financial Inc., Credit Suisse Securities (Canada) Inc., Industrial Alliance Securities Inc. and Raymond James Ltd. (NYSE: RJF).
The net proceeds of the offering will be used to support the company’s recent growth initiatives and for general corporate purposes, including to reduce indebtedness outstanding under the company’s credit facility and to fund other ordinary course capital expenses.
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