18:12:30 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-05-10 C$ 42.25
Market Cap C$ 72,019,457,569
Recent Sedar Documents

FP/wire say Enbridge pares its pile of debt

2018-05-10 08:23 ET - In the News

The Financial Post reports in its Thursday, May 10, edition that Enbridge took a leap forward in efforts to trim the pile of debt it took on with last year's $28.6-billion (U.S.) purchase of Spectra Energy, announcing the sale of a United States natural gas business and interests in some renewable-energy assets. A Bloomberg dispatch to the Post reports that Enbridge on Wednesday agreed to sell its Midcoast Operating LP gas mid-stream unit to ArcLight Capital Partners for $1.12-billion (U.S.). Enbridge also said it is transferring its Canadian renewable-power assets, a wind farm in Colorado, a solar project in Nevada and an interest in two German offshore wind projects to a joint venture with the Canada Pension Plan Investment Board for $1.36-billion (U.S.). With the divestitures, Enbridge is making good on a goal of selling at least $2.33-billion (U.S.) in assets this year to whittle down the $14.5-billion (U.S.) in borrowings from the Spectra deal, which diversified the company into North American gas pipelines. That debt load has weighed on Enbridge shares, sending them down 18 per cent this year through Tuesday, the fourth-worst performance in the S&P/TSX energy index.

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