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
General Motors (GM) luxury brand is offering 400 dealers as it reshapes the brand's image to better compete with rivals, according to media reports. The Detroit auto maker will provide as much as $180,000 in "transition assistance" to U.S. Cadillac dealers unwilling to invest in a set of new standards... Hotwire of Expedia Inc. cautioned customers about a fake fax memo. The memo, offering deep travel discounts, has an old corporate Hotwire logo in it to falsely imply a connection with Hotwire. It carries phone numbers which are not related to travel booking site. A Singapore-based music start-up has acquired a 49 percent stake in the iconic music and pop culture-focused magazine Rolling Stone, becoming the first outsider investor in the magazine. Financial terms of the deal, which will enable Rolling Magazine to expand its international reach, were not disclosed.
comments powered by Disqus
Follow RTT