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EnCana Corporation $500 Million New Issue Timeline for 6.50% Bonds Due 05/15/2019

On April 29, 2009, EnCana Corporation announced a new $500 million bond issue with a 6.50% interest rate due on 05/15/2019. The underwriting process commenced at 8:44 AM with initial alerts to investors via Bloomberg. After a brief window for evaluating credit quality and terms, books were closed by 9:00 AM, stopping further orders. Price guidance was revealed at 9:23 AM, followed by the launch with finalized pricing at 10:16 AM. The deal was officially priced at 1:15 PM, reflecting the specifics that diverged from initial guidance.

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EnCana Corporation $500 Million New Issue Timeline for 6.50% Bonds Due 05/15/2019

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  1. EnCana Corp. – New Issue Timeline $500 million 6.50% due 05/15/2019 Pricing Date: April 29, 2009 TimeStep 8:44 AM Underwriters announce a new issue and alert investors via Bloomberg system and phone. Investors attempt to evaluate the issuer’s credit quality and prospectus terms. Investors submit an order without finalized pricing or terms before books are closed. 9:00 AM Offering goes subject and books are closed (i.e. orders of interest are no longer accepted) 16 minutes after deal announcement. 9:23 AM Price guidance, or an indicative pricing range, is announced. 9:30 AM After books are closed, documentation (preliminary prospectus) is provided to investors, which may include only a summary of key provisions in the indenture. 10:16 AM Deal is launched with final pricing and settlement terms which can differ meaningfully from price guidance. 1:15 PM Deal is priced.

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