Enerplus Reports $200 Mln Private Placement Of Senior Notes - Quick Facts

(RTTNews) - Enerplus Corp. (ERF.TO, ERF) has inked agreements for an offering of senior unsecured notes to be issued on a private placement basis to institutional investors in the U.S. in an aggregate principal amount of $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. The Private Placement may close on September 3, 2014.

Enerplus would 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. Citigroup Global Markets Inc. acted as the exclusive placement agent in connection with the Private Placement.