Maritime Link Financing Trust Completes $1.3 Billion Bond Financing

24-Apr-2014

HALIFAX, Nova Scotia - Emera Incorporated ("Emera")  announces today that the Maritime Link Financing Trust (the “Issuer”) has completed its offering of $1,300,000,000 aggregate principal amount of 3.50% bonds, designated as Series A, due December 1, 2052 (the “Bonds”), at a price of $999.57 per $1,000 principal amount of Bonds for aggregate gross proceeds to the Issuer of approximately $1.3 billion (the “Offering”).

The Offering was led by Scotiabank as sole book runner and underwriter. The Bonds benefit from a direct, absolute, unconditional and irrevocable guarantee of Canada and have been assigned a rating of “AAA” by Standard & Poor’s, a Standard & Poor’s Financial Services LLC business and a rating of “AAA” by DBRS Limited. The net proceeds of the Offering will be used to fund the construction of the Maritime Link Project.

The Bonds have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information

This news release contains forward-looking information with respect to Emera. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, which can be found on SEDAR at sedar.com.

About Emera

Emera Inc. is an energy and services company with $8.88 billion in assets and 2013 revenues of $2.2 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in four Caribbean countries. Approximately 90% of the company's reported net income in 2013 came from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A., EMA.PR.C., and EMA.PR.E. Additional information can be accessed at emera.com, or on SEDAR at sedar.com.

About The Maritime Link Project

The Maritime Link is a proposed 500 MW high voltage direct current (HVdc) transmission line between Nova Scotia and Newfoundland and Labrador. The Project will include two 170 km subsea cables across the Cabot Strait, with almost 50 km of overland transmission in Nova Scotia and close to another 300 km of overland transmission on the island of Newfoundland.

Contact:

Investor Relations:

Jill Hennigar, CA, Manager, Investor Relations
902-428-6486
emera.com

or

Media:

Dina Bartolacci Seely, Senior Communications Advisor
902-428-6059
emera.com