Enerplus to place $200 million 3.79% notes; Customers Bancorp to issue $135 million notes

By Lisa Kerner

Charlotte, N.C., June 26 – Enerplus Corp. announced it will issue $200 million of 3.79% senior notes in a private placement with U.S. institutional investors.

The notes have a 12-year amortizing term with a 10-year average life, according to a company news release.

Enerplus expects to close the placement on Sept. 3.

Proceeds will be used to repay debt.

Citigroup Global Markets Inc. acted as the placement agent.

Enerplus is an energy company based in Calgary, Alta.

Customers Bancorp, Inc. and its wholly owned subsidiary Customers Bank agreed to privately place $25 million of 4.625% senior notes due 2019 and $110 million of fixed-to-floating-rate subordinated notes due 2029, respectively.

Proceeds will be used by the company and Customers Bank for general corporate purposes.

Initially, the subordinated notes will bear interest at an annual fixed rate of 6.125%. From and including June 26, 2024, the subordinated notes will bear an annual interest rate equal to Libor plus 344.3 basis points.

The transaction was expected to close on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

Based in Wyomissing, Pa., Customers is a bank holding company.

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