EnCana Completes C$500 Million Debt Offering
EnCana (TSX, NYSE: ECA) has completed a public offering in Canada of senior unsecured medium term notes in the aggregate principal amount of C$500 million. The notes have a coupon rate of 3.60% and mature on September 15, 2008. The net proceeds of the offering will be used to repay a portion of EnCana's existing bank and commercial paper indebtedness.
These debt securities are rated A- by Standard & Poor's Ratings Service (S&P), Baa2 by Moody's Investors Service Inc. and A(low) by Dominion Bond Rating Service (DBRS).
The offering was made in Canada under EnCana's previously filed shelf
prospectus dated August 31, 2005. CIBC World Markets Inc. and Scotia Capital
Inc. acted as joint lead agents for the offering.
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