logo
Share SHARE
FONT-SIZE Plus   Neg

Enerplus Prices Proposed Offering Of $405 Mln Of Senior Unsecured Notes

Enerplus Corp. (ERF,ERF.TO) announced that it has priced a proposed offering of senior unsecured notes to be issued on a private placement basis in the United States and Canada with an aggregate principal amount of approximately US$405 million.

The company said that the notes to be issued pursuant to the Private Placement are scheduled to be issued in three separate tranches.

The Private Placement will be US$355 million at 4.40% with a 12 year amortizing term with principal payments required in five equal annual instalments beginning in 2020; US$20 million at 4.40% with a 10 year bullet term;C$30 million at 4.34% with a 7 year bullet term.

The company said the notes issued pursuant to the Private Placement will be unsecured and rank equally with our bank credit facility and other outstanding senior notes. The Private Placement is expected to close on or about May 15 , 2012.

The company noted that it intend to use the proceeds of the Private Placement to repay advances on its bank credit facility.

Citigroup Global Markets Inc. acted as the exclusive placement agent in connection with the proposed Private Placement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock. Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.
comments powered by Disqus
RELATED NEWS
Trade ERF now with 
Follow RTT