By Lisa Kerner
Charlotte, N.C., April 16 - Enerplus Corp. said it priced a roughly $405 million proposed private placement of senior notes in the United States and Canada.
The notes are expected to be issued in three tranches:
• $355 million of 4.4% 12-year notes with principal payments required in five equal annual installments beginning in 2020;
• $20 million of 4.4% notes with a 10-year bullet term; and
• C$30 million of 4.34% notes with a seven-year bullet term.
Citigroup Global Markets Inc. is the placement agent.
Proceeds will be used to repay advances on the company's bank credit facility.
The placement is expected to close on or about May 15, according to a company news release.
The notes have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Enerplus is an energy company based in Calgary, Alta.
| Issuer: | Enerplus Corp.
|
| Issue: | Senior notes
|
| Amount: | About $405 million
|
| Pricing date: | April 16
|
| Settlement date: | May 15
|
| Distribution: | Private placement
|
|
|
| Tranche 1
|
| Amount: | $355 million
|
| Maturity: | 12 years
|
| Amortization: | Five equal annual installments beginning in 2020
|
| Coupon: | 4.4%
|
|
|
| Tranche 2
|
| Amount: | $20 million
|
| Maturity: | 10 years
|
| Coupon: | 4.4%
|
|
|
| Tranche 3
|
| Amount: | C$30 million
|
| Maturity: | Seven years
|
| Coupon: | 4.34%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
