Enbridge completes US$200 million preferred share offering
Date Closed
April 19, 2012
Lead Office
Calgary
Value
200.00 Million USD
On April 11, 2012, Enbridge Inc. closed its previously announced public offering of cumulative redeemable preferred shares, Series J (the "Series J Preferred Shares") by a syndicate of underwriters led by Scotiabank. Enbridge issued 8 million Series J Preferred Shares for gross proceeds of US$200 million. The Series J Preferred Shares will begin trading on the TSX under the symbol ENB.PR.U. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.
Enbridge, headquartered in Calgary, Alberta, is a Canadian crude oil and liquids pipeline company.
McCarthy Tétrault LLP represented Enbridge, the issuer, with a team led by John Osler.