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Investor Presentaiton

17 FINANCING STRATEGY SUPPORTS EXISTING CREDIT PROFILE Successful upfront convertible debenture financing provides CAD$2.185bn of equity; expected to fully address Emera's common equity financing needs for the acquisition Expected ranges for financing plan: Common Equity and available sources - USD$1.7bn USD$2.1bn □ Preferred Equity USD$0.8bn - USD$1.2bn USD$3.4bn - USD$3.8bn ☐ Debt Currency risk hedged for convertible debenture financing¹. First instalment of convertible debenture held directly in USD$ treasuries. Currency exchange forward contract in place for second instalment. Most of the preferred share and debt financing targeted in USD$, providing significant natural currency hedge. Effectively approximately 85% of USD$6.5 billion required to close deal FX hedged. Incremental common equity financing through 2016, if any, in support of capital expenditures remains modest and consistent with previous estimates of between CAD$0 and CAD$300mm 1Hedged at approximate rate of $1.30 USD/CAD Emera
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