trending Market Intelligence /marketintelligence/en/news-insights/trending/dpNMbRO4ZQXlSfW4fB3kRA2 content esgSubNav
In This List

Encana fetches $1.15B in gross proceeds from fully subscribed public offering

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

[Report]: 2021 Corporate Renewables Outlook

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


Encana fetches $1.15B in gross proceeds from fully subscribed public offering

EncanaCorp. closed the overallotment option for the underwriters of itspublic offering of 107,000,000common shares, which was exercised in full and raised gross proceeds to US$1.15billion.

The overallotment option was for an additional 16,050,000shares at the same offering price of US$9.35 per share, yielding a total ofUS$150 million in additional gross proceeds, according to an Oct. 4 newsrelease.

Encana plans to use the proceeds to fund part of its 2017capital program and to repay amounts outstanding under its credit facilities.

The syndicate of underwriters for the offering was led by CreditSuisse Securities (Canada) Inc. and JP Morgan.