Date Closed

May 23, 2012

Lead Office

Calgary

Value

400.00 Million USD

On May 23, 2012 Enbridge Inc. closed a public offering of Cumulative Redeemable Preference Shares, Series L. The Series L Preferred Shares were offered by a syndicate of underwriters led by Scotia Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc. Enbridge issued 16 million Series L Preferred Shares for gross proceeds of US$400 million. 

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.