Enerplus Announces Closing of Senior Unsecured Notes
CALGARY, May 15, 2012 /CNW/ – Enerplus Corporation (“Enerplus”) (TSX:
ERF) (NYSE: ERF) is pleased to announce the closing of our previously
announced offering of senior unsecured notes which were issued on a
private placement basis in the United States and Canada (the “Private
Placement”) in an aggregate principal amount of approximately US$405
The notes were issued in three separate tranches as follows:
-- US$355 million at 4.40% with a 12 year amortizing term with principal payments required in five equal annual instalments beginning in 2020; -- US$20 million at 4.40% with a 10 year bullet term; and -- CDN$30 million at 4.34% with a 7 year bullet term.
The notes are unsecured and rank equally with our bank credit facility
and other outstanding senior notes. The proceeds were used to repay
advances on our bank credit facility.
Citigroup Global Markets Inc. acted as the exclusive placement agent in
connection with the Private Placement. The notes issued pursuant to
the Private Placement have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “Securities
Act”), and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act.
Gordon J. Kerr
President & Chief Executive Officer
SOURCE Enerplus Corporation