Mr. Adam McKnight reports

ENBRIDGE INCREASES SIZE OF PREFERRED SHARE OFFERING

As a result of strong investor demand for its previously announced offering of cumulative redeemable preference shares, Series 15, Enbridge Inc. has increased the size of the offering to 11 million Series 15 preferred shares. The aggregate gross proceeds will be $275-million. Closing of the offering is expected on Sept. 23, 2014.

The holders of Series 15 preferred shares will be entitled to receive fixed cumulative dividends at an annual rate of $1.10 per share, payable quarterly on the first day of March, June, September and December, as and when declared by the board of directors of Enbridge, yielding 4.40 per cent per annum, for the initial fixed rate period to but excluding Sept. 1, 2020. The first quarterly dividend payment date is scheduled for Dec. 1, 2014. The dividend rate will reset on Sept. 1, 2020, and every five years thereafter at a rate equal to the sum of the then-five-year Canadian government bond yield plus 2.68 per cent. The Series 15 preferred shares are redeemable by Enbridge, at its option, on Sept. 1, 2020, and on Sept. 1 of every fifth year thereafter.

The holders of Series 15 preferred shares will have the right to convert their shares into cumulative redeemable preference shares, Series 16, subject to certain conditions, on Sept. 1, 2020, and on Sept. 1 of every fifth year thereafter. The holders of Series 16 preferred shares will be entitled to receive quarterly floating-rate cumulative dividends, as and when declared by the board of directors of Enbridge, at a rate equal to the sum of the 90-day government of Canada treasury bill rate plus 2.68 per cent.

The offering is being made only in Canada by means of a prospectus. Proceeds will be used to partially finance capital projects, to reduce existing indebtedness and for other general corporate purposes of the corporation.

The syndicate of underwriters is led by TD Securities, CIBC World Markets, RBC Capital Markets and Scotiabank.

We seek Safe Harbor.