Enerplus Announces $200 Million Private Placement of Senior Notes
CALGARY, June 26, 2014 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF)
(NYSE: ERF) is pleased to announce that it has entered into agreements for an
offering of senior unsecured notes (the "Notes") to be issued on a private
placement basis to institutional investors in the United States (the "Private
Placement") in an aggregate principal amount of US$200 million.
The Notes have a 12 year amortizing term with a ten year average life and a
fixed-rate coupon of 3.79%. The Notes are unsecured and rank equally with the
Company's bank credit facility and other outstanding senior notes. Subject to
the satisfactory completion of customary closing conditions, the Private
Placement is expected to close on September 3, 2014. Enerplus intends to use
the proceeds to repay outstanding bank debt, replacing short-term, floating
interest rate debt with long-term debt at an attractive fixed interest rate.
The Notes to be 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.
Citigroup Global Markets Inc. acted as the exclusive placement agent in
connection with the Private Placement.
Except for the historical and present factual information contained herein,
the matters set forth in this news release, including words such as "expects",
"projects", "plans" and similar expressions, are forward-looking information
that represents management of Enerplus' internal projections, expectations or
beliefs concerning, among other things, the proposed closing of the offering
of senior unsecured notes and repayment of bank indebtedness with the proceeds
thereof. The projections, estimates and beliefs contained in such
forward-looking statements necessarily involve known and unknown risks and
uncertainties, which may cause Enerplus' actual performance and financial
results in future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include the risk that such offering
may not close on the terms or the timeframe indicated, or at all.
Accordingly, holders of Enerplus shares and potential investors are cautioned
that events or circumstances could cause results to differ materially from
Ian C. Dundas
President & Chief Executive Officer
SOURCE Enerplus Corporation
For further information, including financial and operating results and our
most recent corporate presentation, please visit our website
atwww.enerplus.com, or phone 1-800-319-6462.
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CO: Enerplus Corporation
NI: OIL FIN PVT
-0- Jun/26/2014 10:00 GMT
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