Date Closed

September 13, 2012

Lead Office

Calgary

Value

400.00 Million CAD

On September 13, 2012, Enbridge Inc. announced it had closed its previously announced public offering of Cumulative Redeemable Preference shares, Series P (the "Series P Preferred Shares") by a syndicate of underwriters led by TD Securities Inc., CIBC World Markets, RBC Capital Markets and Scotiabank. Enbridge issued 16 million Series P Preferred Shares for gross proceeds of C$400 million. The Series P Preferred Shares began trading on the TSX on September 13, 2012 under the symbol ENB.PR.P.

The net proceeds will be used to partially fund capital projects, to reduce short term indebtedness and for other general corporate purposes.

Enbridge, headquartered in Calgary, Alberta, is an energy delivery company.

McCarthy Tétrault LLP represented Enbridge, the issuer, with a team led by John Osler.