Emera US Finance LP’s Inaugural Private Offering of $3.25 Billion of Senior Notes and Emera Incorporated Inaugural US Offering of $1.2 Billion of Fixed-to-Floating Subordinated Notes

Hunton & Williams LLP advised the Initial Purchasers, led by J.P. Morgan Securities LLC and Scotia Capital (USA) Inc., in connection with Emera US Finance LP’s inaugural issuance of $3.25 billion aggregate principal amount of its senior notes (the “Notes”) in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended, to eligible purchasers. The Notes are fully and unconditionally guaranteed by Emera Incorporated (“Emera”) and Emera US Holdings Inc.

Hunton & Williams also advised the Underwriters, led by J.P. Morgan Securities LLC as Sole Book-Runner and Structuring Agent, in connection with Emera’s inaugural U.S. issuance of $1.2 billion of 6.75% Fixed-to-Floating Subordinated Notes due 2076 (the “Hybrids”) in a SEC registered offering.

A portion of the net proceeds from the sale of the Notes and the Hybrids will be used to finance the $10.6 billion acquisition by Emera of TECO Energy, Inc., which is expected to close in the second half of 2016 subject to certain regulatory and government approvals.

Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately Cdn$11.5 billion in assets as of March 31, 2016 and 2015 revenues of Cdn$2.79 billion. Emera invests in electricity generation, transmission and distribution, gas transmission and utility services. Emera currently provides regional energy solutions by connecting its assets, markets and partners in eastern Canada, northeastern United States and the Caribbean. Emera’s business continues to grow and evolve.

The Hunton & Williams team was led by Peter O’Brien and included associates Christina Kwon, Carney Simpson and Patrick Jamieson. Cary Tolley and Emily Winbigler provided tax advice.