Nova Scotia Power Issues $300 Million Aggregate Principal Amount of Notes Due November 15, 2032 (Unsecured) and $200 Million Aggregate Principal Amount of Notes Due March 24, 2053 (Unsecured)

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

HALIFAX, Nova Scotia–(BUSINESS WIRE)–Nova Scotia Power Incorporated (“Nova Scotia Power” or the “Company”) today announced that it has completed an offering of $300 million aggregate principal amount of Notes due November 15, 2032 (Unsecured), Series 2023-1 (“Series 2023-1 Notes”) and $200 million aggregate principal amount of Notes due March 24, 2053 (Unsecured), Series 2023-2 (“Series 2023-2 Notes” and, together with the Series 2023-1 Notes, the “Notes”). The Notes were offered on a private placement basis (the “Offering”) in each of the provinces of Canada pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The Series 2023-1 Notes bear interest at the rate of 4.951% per annum until November 15, 2032. The Series 2023-2 Notes bear interest at the rate of 5.355% per annum until March 24, 2053.

The net proceeds from the Offering will be added to the general funds of the Company and applied primarily to refinance existing indebtedness, including bank indebtedness, to finance capital expenditures and for other general corporate purposes.

The Offering was made through a syndicate of agents led by BMO Nesbitt Burns Inc. and Scotia Capital Inc. and included CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc. and National Bank Financial Inc.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in the United States or in any province, state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of the United States or any such province, state or other jurisdiction. These securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities being offered have not been approved or disapproved by any regulatory authority.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws with respect to Offering, including the use of proceeds with respect thereof. By its nature, forward-looking information requires the Company to make assumptions and is subject to inherent risks and uncertainties. These statements reflect management’s current beliefs and are based on information currently available to management. Additional detailed information about these assumptions, risks and uncertainties is included in the Company’s securities regulatory filings, including its Annual Information Form, annual and interim Management’s Discussion and Analysis, and in the notes to its annual and interim financial statements, which filings can be found under the Company’s profile on SEDAR at

About Nova Scotia Power

Nova Scotia Power is a wholly owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides 95% of the generation, transmission and distribution of electrical power to approximately 541,000 residential, commercial and industrial customers across Nova Scotia. The Company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has over 2,000 employees and $6.8 billion in assets. Learn more at


Investor Relations:

Investor Relations

Dave Bezanson, VP, Investor Relations & Pensions


Arianne Amirkhalkhali, Manager, Investor Relations



Jacqueline Foster, Senior Communications Advisor