13:01:57 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-03-06 C$ 40.93
Market Cap C$ 69,376,351,719
Recent Sedar Documents

Enbridge note holders tender $106.95-million (U.S.)

2018-03-07 09:23 ET - News Release

An anonymous director reports

ENBRIDGE ANNOUNCES EXPIRATION AND RESULTS OF OFFER BY SPECTRA ENERGY CAPITAL, LLC TO PURCHASE NOTES DUE IN 2032 AND 2038

The all cash tender offer by Enbridge Inc.'s wholly owned subsidiary, Spectra Energy Capital LLC (Spectra Capital), for any and all of Spectra Capital's outstanding 6.75-per-cent senior unsecured notes due 2032 and 7.50-per-cent senior unsecured notes due 2038 expired at 5 p.m. ET on March 6, 2018. According to information provided by D.F. King & Co. Inc., the tender and information agent for the tender offer, (i) $64,121,000 (U.S.) aggregate principal amount of the 2032 notes and (ii) $42,829,000 (U.S.) aggregate principal amount of the 2038 notes were validly tendered prior to or at the expiration of the tender offer and not validly withdrawn. These amounts include (i) $96,000 (U.S.) aggregate principal amount of the 2032 notes and (ii) $0 (U.S.) aggregate principal amount of the 2038 notes tendered pursuant to the guaranteed delivery procedures described in the offer to purchase, dated Feb. 28, 2018. The tender offer was made pursuant to the offer to purchase. The obligation of Spectra Capital to accept the notes tendered and to pay the consideration for the notes is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the offer to purchase. If the conditions are met, Spectra Capital expects to pay for such notes on March 9, 2018.

Holders of the 2032 notes and the 2038 notes that validly tendered and did not validly withdraw their 2032 notes or 2038 notes, as applicable, prior to the expiration of the tender offer will receive total consideration of $1,244.95 (U.S.) and $1,344.82 (U.S.), respectively, for each $1,000 (U.S.) principal amount of 2032 notes and 2038 notes tendered and accepted for payment, plus accrued and unpaid interest up to, but not including, March 9, 2018, the expected settlement date of the tender offer.

J.P. Morgan Securities LLC is acting as dealer manager for the tender offer. D.F. King & Co. Inc. is acting as the tender and information agent for the tender offer. Questions regarding the tender offer may be directed to: J.P. Morgan Securities LLC at 866-834-4666 (toll-free) or 212-834-3424. The offer to purchase may be accessed on the D.F. King website, or, free of charge, by calling toll-free at 877-783-5524 (bankers and brokers can call collect at 212-269-5550).

About Enbridge Inc.

Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation. The company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express pipeline accounts for approximately 65 per cent of American-bound Canadian crude oil exports and moves approximately 20 per cent of all natural gas consumed in the United States, serving key supply basins and demand markets. The company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec and New Brunswick. Enbridge also has interests in more than 2,500 megawatts of net renewable generating capacity in North America and Europe.

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