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Emera completes C$300M preferred shares offering

Emera Inc. on May 31 said it completed its previously announced bought-deal offering of C$300 million of preferred shares.

The company sold 12 million cumulative minimum rate reset first preferred shares, series H, at C$25 per share to a syndicate of underwriters in Canada. Emera will use the net proceeds from the offering for general corporate purposes.

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