Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tue, April 16, 11:27 AM

This Slide: #86 of 620

Slide #86. Emera Incorporated — Preferred Stock Offering

Company:	Emera Incorporated (TSE:EMA.CA)
Date announced:	3/24/2021
Shares Offered:	8,000,000
Date of Pricing:	3/24/2021
Price Per Share:	$25.00
Preferred Stock Offering Details:	Emera Incorporated ("Emera") (TSX:EMA.CA) announced today that it will issue 8,000,000 Cumulative Minimum Rate Reset First Preferred Shares, Series J (the "Series J Preferred Shares") at a price of $25.00 per share and at an initial annual dividend rate of 4.25 per cent, for aggregate gross proceeds of $200 million on a bought deal basis to a syndicate of underwriters in Canada led by Scotiabank and RBC Capital Markets. Emera has granted to the underwriters an option, exercisable at any time up to two business days prior to the closing of the offering, to purchase up to an additional 2,000,000 Series J Preferred Shares at a price of $25.00 per share (the "Underwriters' Option"). If the Underwriters' Option is exercised in full, the aggregate gross proceeds to Emera will be $250 million.

Emera is an energy and services company. Co. owns and operates regulated electric and gas utilities in Canada, the U.S. and the Caribbean. Co. invests in electricity generation, transmission and distribution and gas transmission and distribution. Co.'s reportable segments are: Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure and Other. Co.'s Florida Electric Utility segment consists of Tampa Electric Company, a regulated electric utility, serving customers in West Central Florida. Co.'s Canadian Electric Utilities segment includes Nova Scotia Power Inc., and Emera Newfoundland & Labrador Holdings Inc.

Preferreds: EMA.PRA.CA, EMA.PRC.CA, EMA.PRE.CA, NSI.PRD.CA

Open the EMA.CA Page at Preferred Stock Channel »

EMA.CA — Key Stats (updated 28 MINs ago)

Name:
Emera Inc
Website:
www.emera.com
Sector:
Electric Utilities
Number of ETFs Holding EMA.CA:
1 (see which ones)
Total Market Value Held by ETFs:
$189,445
Total Market Capitalization:
$5,815,000,000
% of Market Cap. Held by ETFs:
0.00%