Emera Inc. in its bought deal offering of common shares for $700 million

On December 28, 2017, Emera Inc. (“Emera”) announced the completion of its bought deal offering of 14,614,000 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 and TD Securities Inc., as joint bookrunners.

The net proceeds of the offering will be used to support Emera's recently announced growth initiatives and general corporate purposes.

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $28 billion in assets and 2016 revenues of more than $4 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources.

Osler, Hoskin & Harcourt LLP represented Emera with a team consisting of John Macfarlane, Jay Greenspoon and Arielle Kaplan (Corporate), Tim Hughes and David Davachi (Tax), and Rob Lando (U.S.).