The Vancouver Sun reports in its Saturday edition Enbridge, planning a record $4-billion of bond sales to finance an expansion into the United States, wants to avoid overwhelming investors by contributing to a supply wave that could raise borrowing costs. A Bloomberg dispatch to The Sun says the owner of Canada's largest oil-pipeline network plans to evenly spread $16-billion of borrowing over the next four years, raising a quarter in 2013, chief financial officer Richard Bird said. Debt financing will almost double in 2013 from $2.2-billion last year.
Enbridge shares closed Friday at $47.47, up 35 cents on the Toronto Stock Exchange.
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