
Enbridge Issues Preferred Shares to Fund Capital Projects
Enbridge Inc. has announced that it has entered into an agreement with a group of underwriters to sell eight million Cumulative Redeemable Preference Shares, Series 7 at a price of $25.00 per share for distribution to the public. Closing of the offering is expected on December 12, 2013.
Proceeds will be ~$200 million.
Proceeds will be used to partially fund capital projects, to reduce existing indebtedness and for other general corporate purposes of the Corporation and its affiliates.
The syndicate of underwriters is led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities Inc.
/Book Runner
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