04:01 PM EST, 01/17/2025 (MT Newswires) -- Emera ( EMRAF ) said Friday afternoon the exchange offer for US$500 million in 7.625% fixed-to-fixed reset rate junior subordinated notes due 2054 expired at midnight on Jan. 13.

The old notes were originally issued in June by Emera's ( EMRAF ) subsidiary, EUSHI Finance, to qualified institutional buyers and non-US persons.

EUSHI Finance received tenders for nearly all of the US$500 million in old notes, amounting to US$499.8 million. It expects to issue an equal amount of new notes in exchange for the validly tendered old notes, with settlement expected around Friday, pending certain conditions, Emera ( EMRAF ) said.