Date Closed

September 30, 2011

Lead Office

Calgary

Value

500.00 Million CAD

On September 30, 2011, Enbridge Inc. (“Enbridge”) completed its offering of 20 million cumulative redeemable preference shares, series B (“Series B Preferred Shares”) at a price of C$25.00 per Series B Preferred Share for a total offering of C$500 million.

The offering was offered by a syndicate of underwriters co-led by Scotia Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc. and HSBC Securities (Canada) Inc. 

The proceeds of the offering of the Series B Preferred Shares will be utilized to partially fund capital projects and reduce short term indebtedness of Enbridge and its affiliates incurred in the funding of capital projects and other general corporate purposes.

Enbridge, headquartered in Calgary, Alberta, is an energy transportation and distribution company.

McCarthy Tétrault LLP represented Enbridge, the issuer, with a team led by John Osler, TJ Kang, Wilson Acton and Matthew Lawson.