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Encana Completes $1 Billion Equity Offering
- Client News
- September 23, 2016
Paul, Weiss client Encana Corporation, a leading North American
energy producer, completed a public offering of 107,000,000 common
shares in the U.S. and Canada for gross proceeds of approximately
$1 billion. Encana will use the net proceeds from the sale to
fund a portion of its 2017 capital program and enhance its balance
sheet flexibility by repaying indebtedness under its credit
facilities. The syndicate of underwriters was led by Credit Suisse
and J.P. Morgan.
The Paul, Weiss team included corporate partner Andrew Foley;
tax partner David Sicular; and environmental
counsel William O'Brien.