Encana C$1.4 billion common share offering

March 16, 2015

Client: RBC Capital Markets

On March 16, 2015, Encana Corporation completed a public offering of common shares in Canada and the U.S.  A total of 85,616,500 common shares were issued at a price of C$14.60 per share for gross proceeds of approximately C$1.25 billion.  The over-allotment option granted to the underwriters in connection with the financing was subsequently exercised in full and an additional 12,842,475 common shares were issued for gross proceeds of approximately C$187 million.

The offering was made through a syndicate of underwriters led by RBC Capital Markets, Credit Suisse and Scotiabank.  Norton Rose Fulbright acted as counsel for the underwriters.  The team was led by Kevin Johnson and included Don Tse, Kathleen Cowick, Darren Hueppelsheuser, Jason Giborski and Saptarshi Chakraborty.