Nova Scotia Power Inc. issues $300 million of Medium Term Notes

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HALIFAX, June 15 /CNW/ - Today, Nova Scotia Power Inc. completed the issue of $300 million Series X Medium Term Notes. The Series X Notes bear interest at the rate of 5.61% and yield 5.616% per annum until June 15, 2040.

The Offering was made to the public through a syndicate of agents co-led by BMO Nesbitt Burns Inc. and TD Securities Inc., and included CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and Merrill Lynch Canada Inc.

The net proceeds of the Offering will be used to repay short term borrowings and for general corporate purposes.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

Forward Looking Information

This news release contains forward looking information. Actual future results may differ materially. Additional financial and operational information is filed electronically with various securities commissions in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR).

About Nova Scotia Power

Nova Scotia Power Inc. is the largest wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides more than 95% of the generation, transmission and distribution of electrical power to 486,000 customers in the province. The company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has 1,900 employees and $3.5 billion in assets. To learn more, visit www.nspower.ca.

For further information: Jennifer Nicholson, CA, Senior Director, Stakeholder Relations, [phone]; Jill MacDonald, CA, Manager, Investor Relations, [phone]