Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade ERF now with 

Enerplus Corp. (ERF: Quote,ERF.TO: Quote) 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.

Click here to receive FREE breaking news email alerts for Enerplus Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.