Date Closed

March 27, 2013

Lead Office

Calgary

Value

400.00 Million USD

On March 27, 2013, Enbridge Inc. announced it had closed its previously announced public offering of Cumulative Redeemable Preference Shares, Series 1 (the "Series 1 Preferred Shares") by a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities. Enbridge issued 16 million Series 1 Preferred Shares for gross proceeds of US$400 million. The Series 1 Preferred Shares are trading on the Toronto Stock Exchange (TSX) under the symbol ENB.PR.V. The proceeds will be used for capital expenditures, to repay indebtedness and for 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 and included TJ Kang, Wilson Acton, and Matthew Harris.