Canada: Encana Closes USD 1 Billion Debt Offering

Encana Corporation has completed a public offering in the United States of US$600 million notes with a coupon rate of 3.90% due November 15, 2021 and US$400 million notes with a coupon rate of 5.15% due November 15, 2041.

The net proceeds of the offering will be used to repay a portion of Encana’s commercial paper indebtedness.

A portion of this commercial paper indebtedness was incurred to repay Encana’s US$500 million 6.30% notes that matured on November 1, 2011.

Encana’s next bond maturity is C$500 million of 4.30% notes due March 12, 2012.

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LNG World News Staff, November 15, 2011; Image: Encana