Past year: ▲ 39%(19.20 – 27.71 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Feb 2021capital raising announcement● NeutralMajor
Enerplus closed the share offering announced January 25, issuing 33,062,500 common shares at C$4.00 for gross proceeds of C$132,250,000, including the full over-allotment option. This adds to the share count and, with the US$400 million term loan, is meant to pay for the US$465 million Bruin acquisition; if that deal fails, the money goes to capex, repaying near-term senior note maturities and general purposes.
31 May 2016capital raising announcement● NeutralMajor
Enerplus closed the share offering announced May 10, issuing 33,350,000 common shares at C$6.90 for gross proceeds of C$230,115,000, including the full over-allotment of 4,350,000 shares. Proceeds go to reducing bank debt, capital spending and general purposes. This is larger than the originally announced C$200.1 million.
11 May 2016capital raising announcement● NeutralMajor
Enerplus agreed to sell 29,000,000 new common shares at C$6.90 each to underwriters led by BMO, RBC and TD, for gross proceeds of about C$200.1 million, with a 15% over-allotment option. Closing was expected May 31, 2016; proceeds are for reducing bank debt, funding capital spending and general purposes. Issuing new shares dilutes existing holders' ownership percentage.
26 June 2014capital raising announcement● NeutralMajor
Enerplus agreed to sell US$200 million of senior unsecured notes to U.S. institutional investors at a 3.79% fixed rate, with a 12-year amortizing term and a ten-year average life; closing is expected September 3, 2014, subject to customary conditions. The notes rank equally with the bank facility and other senior notes, and proceeds are meant to repay bank debt, swapping floating-rate short-term debt for fixed-rate long-term debt (as the company states).
16 Apr 2012capital raising announcement● NeutralMajor
Enerplus priced a private placement of about US$405 million of senior unsecured notes: US$355 million at 4.40% (12-year, repaid in five equal annual instalments from 2020), US$20 million at 4.40% (10-year), and CDN$30 million at 4.34% (7-year). Closing is expected around May 15, 2012, with Citigroup as placement agent; proceeds will repay bank credit facility borrowings, and the notes rank equally with the bank facility and existing senior notes. This follows the February equity raise, which was also partly aimed at reducing bank debt.
8 Feb 2012capital raising announcement● NeutralMajor
Enerplus closed its share offering announced January 17, 2012, issuing 14,708,500 new common shares at CDN$23.45 each for about CDN$345 million, including 1,918,500 shares from the underwriters' full over-allotment option. The money will first reduce bank debt and then help fund part of the 2012 capital spending program; existing shareholders now own a smaller slice of the company.
9 Sept 2009capital raising announcement● NeutralMajor
Enerplus closed an equity offering of 10,406,250 trust units at CDN$21.65 each, for gross proceeds of about CDN$225 million, including the full over-allotment option. It was launched alongside a Marcellus shale gas acquisition; proceeds effectively funded an average 21.5% working interest in about 540,000 gross acres and future capital and general expenses. Existing unitholders are diluted by the new units, and this adds a Marcellus gas position to the portfolio.
