Report of Foreign Issuer (6-k)
March 20 2015 - 10:34AM
Edgar (US Regulatory)
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For March 20, 2015 |
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Commission File Number: 1-15226 |
ENCANA CORPORATION
(Translation of registrants name into English)
Suite 4400, 500 Centre Street SE
PO Box 2850
Calgary, Alberta, Canada T2P 2S5
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F o Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
DOCUMENTS FILED AS PART OF THIS FORM 6-K
See the Exhibit Index to this Form 6-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 20, 2015 |
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ENCANA CORPORATION |
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(Registrant) |
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By: |
/s/ Dawna I. Gibb |
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Name: Dawna I. Gibb |
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Title: Assistant Corporate Secretary |
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Form 6-K Exhibit Index
Exhibit No. |
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99.1 |
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News Release dated March 20, 2015:
Encana announces closing of over-allotment option in connection with bought deal offering. |
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Exhibit 99.1
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news release |
Encana announces closing of over-allotment option in connection with bought deal offering
Calgary, Alberta (March 20, 2015)
Encana Corporation (Encana) (TSX:ECA)(NYSE:ECA) announced today that, in connection with its completed offering of 85,616,500 common shares of Encana (the Shares) at a price of C$14.60 per Share (the Offering Price), the over-allotment option granted to the underwriters to purchase up to an additional 12,842,475 Shares (the Over-Allotment Option) at the Offering Price was exercised in full for additional aggregate gross proceeds to Encana of approximately C$187.5 million. The sale of the additional Shares today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to Encana from the offering, including the Over-Allotment Option (collectively, the Offering), to approximately C$1.44 billion.
As we announced during our February guidance update, we expect our 2015 capital spending plans and dividend to be fully funded through anticipated cash flow and proceeds from previously announced divestitures, says Doug Suttles, Encana President & CEO. The successful completion of this bought deal offering further enhances our financial flexibility.
Encana will use the net proceeds of the Offering to redeem its US$700 million of long-term debt maturing in 2017 and C$750 million of long-term debt maturing in 2018 on April 6, 2015. The Offering was made on a bought deal basis through a syndicate of underwriters led by RBC Capital Markets, Credit Suisse and Scotiabank.
ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - In the interests of providing Encana shareholders and potential investors with information, certain statements contained in this news release are forward-looking statements or information within the meaning of applicable securities legislation, collectively referred to herein as forward-looking statements. Forward-looking statements in this news release include, but are not limited to: the expected use of the net proceeds of the Offering, the anticipated benefits from the use of proceeds therefrom, Encanas expectation that its 2015 capital spending plans and dividend will be fully funded and Encanas anticipated cash flow and expected proceeds from divestitures.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Encanas actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.
Although Encana believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list of important factors is not exhaustive. In addition, assumptions relating to such forward-looking statements generally include Encanas current expectations and projections made in light of, and generally consistent with, their historical experiences and perceptions of historical trends, all of which are subject to the risk factors identified elsewhere in this news release or in or incorporated by reference into Encanas prospectus supplement in respect of the Offering dated March 4, 2015 to its base shelf prospectus dated June 27, 2014. For a full discussion of Encanas material risk factors, see Risk Factors in Encanas most recent Annual Information Form, Risk Management in Encanas annual MD&A and risk factors described in other documents Encana files from time to time with securities regulatory authorities, all of which are available on SEDAR at http://www.sedar.com and on EDGAR at http://www.sec.gov.
Furthermore, the forward-looking statements contained in this news release are made as of the date hereof and, except as required by law, Encana undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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Encana Corporation
Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.
Further information on Encana Corporation is available on the companys website, www.encana.com, or by contacting:
Investor contact: |
Media contact: |
Brian Dutton |
Jay Averill |
Director, Investor Relations |
Director, Media Relations |
(403) 645-2285 |
(403) 645-4747 |
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Patti Posadowski |
Doug McIntyre |
Sr. Advisor, Investor Relations |
Advisor, Media Relations |
(403) 645-2252 |
(403) 645-6553 |
SOURCE: Encana Corporation
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