Encana preparing to sell $1 billion of 10-year, 30-year notes

By Sheri Kasprzak

New York, Nov. 8 - Encana Corp. said Tuesday that it will price $1 billion of notes in a two-tranche deal, according to a filing with the Securities and Exchange Commission.

The joint bookrunners for the notes (Baa2/BBB+/) are Barclays Capital Inc., BNP Paribas and J.P. Morgan Securities LLC.

The offering will include $600 million of 10-year notes and $400 million of 30-year notes, said a source familiar with the sale.

Proceeds will be used to repay a portion of the company's commercial paper debt. The remainder will be used for general corporate purpose or for investments in short-term marketable securities.

Encana, based in Calgary, Alta., is a natural gas producer.

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