Emera Inc. subsidiary Emera US Finance LP has launched an exchange offer for US$3.25 billion of four series of its outstanding senior unsecured notes for a like amount of new notes, according to a Dec. 15 release.

The old notes consist of US$500 million of the company's 2.15% notes due 2019, US$750 million of 2.7% notes due 2021, US$750 million of 3.55% notes due 2026 and US$1.25 billion of 4.75% notes due 2046. Emera had issued the notes in June to help fund the acquisition of TECO Energy Inc.

The exchange offer is expected to expire at 11:59 p.m. ET on Jan. 13, 2017.

D.F. King & Co. Inc. is acting as the exchange agent.

Separately, Emera on Dec. 16 said it has completed an approximately C$300 million bought-deal offering of common shares for general corporate purposes. The company sold 6,630,000 shares at C$45.25 apiece to a syndicate of underwriters led by TD Securities Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank.

The syndicate of underwriters also included BMO Nesbitt Burns Inc., National Bank Financial Inc., Barclays Capital Canada Inc., Credit Suisse Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., Industrial Alliance Securities Inc. and Raymond James Ltd.