Hunton Andrews Kurth LLP represented the Underwriters in connection with Emera US Finance, LLC’s (the “Issuer”) SEC-registered offering of (i) $375 million 6.650% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 (the “Series A Notes”) and (ii) $375 million aggregate principal amount of 6.850% Series B Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 (the “Series B Notes,” and together with the Series A Notes, the “Junior Subordinated Notes”). The Junior Subordinated Notes are fully and unconditionally guaranteed on a subordinated basis by Emera Incorporated (“Emera”) and Emera US Holdings Inc.
The Issuer is owned indirectly by Emera. The Issuer was formed for the purpose of Emera’s intercompany financings and does not have any operations or assets other than interests in other financing-related entities and does not have any operating revenues. Based in Halifax, Nova Scotia, Emera owns and operates cost-of-service rate-regulated electric and gas utilities in Canada, the United States and the Caribbean.
The Hunton team included Peter K. O’Brien, Patrick C. Jamieson, Jingyi “Alice” Yao, Catherine I. Bulger and Jack W. Chatas. Robert McNamara, William Freeman, and David Kamins provided tax advice.