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Pump jacks pump oil at an Encana well near Standard, Alta., May 12, 2014.

Investment bankers are breathing a bit easier Thursday morning. The latest big deal to hit Bay Street has been fully sold.

A flurry of large share sales have been launched over the past few weeks, and their success rates are mixed. Some flew off the shelves, some took time to sell, some are still sore spots. So every time a new one arrives, the underwriters aren't quite sure of what to expect.

But the latest deal, worth $1.25-billion for Encana, has been sold, according to two people familiar with the deal. That news is a major relief because a number of investment banks are still sitting on shares of Silver Wheaton following its major financing earlier this week.

Encana came to market for new funds with a specific goal in mind: to pay back debt. The company has been adamant about maintaining an investment grade rating, and shareholders seemed willing to support that strategy by helping the company reduce its leverage.

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