By Lisa Kerner
Charlotte, N.C., May 15 - Enerplus Corp. announced it closed its previously announced private placement of $405 million of senior notes in the United States and Canada.
The notes were 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.
Proceeds will be used to repay advances on the company's bank credit facility, a company news release said.
The notes are unsecured and rank equally with Enerplus' bank credit facility and other outstanding senior notes.
Citigroup Global Markets Inc. was the placement agent.
Enerplus is an energy company based in Calgary, Alta.
| Issuer: | Enerplus Corp.
|
| Issue: | Senior notes
|
| Amount: | $405 million
|
| Placement agent: Citigroup Global Markets Inc.
|
| Distribution: | Private placement
|
|
|
| Twelve-year notes
|
| Amount: | $355 million
|
| Coupon: | 4.4%
|
| Maturity: | 12 years
|
| Amortization: | Starting in 2020
|
|
|
| Ten-year notes
|
| Amount: | $20 million
|
| Coupon: | 4.4%
|
| Maturity: | 10-year bullet
|
|
|
| Seven-year notes
|
| Amount: | C$30 million
|
| Coupon: | 4.34%
|
| Maturity: | Seven-year bullet
|
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