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Emera completes $700M bought-deal offering

Emera Inc. completed a bought-deal offering of 14,614,000 common shares at C$47.90 apiece for gross proceeds of C$700 million, according to a Dec. 28 release.

The company plans to use the net proceeds to support its growth initiatives and for general corporate purposes, including reducing its outstanding debts.

The syndicate of underwriters was led by RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities Inc. as joint book runners. Other underwriters included BMO Capital Markets, National Bank Financial Inc., Credit Suisse Securities (Canada) Inc., Industrial Alliance Securities Inc. and Raymond James Ltd.