Date Closed

September 29, 2011

Lead Office

Calgary

Value

219.00 Million CAD

On September 29, 2011, Enbridge Income Fund Holdings Inc. (“EIFH”) completed its offering of 11,707,000 subscription receipts, each subscription receipt convertible for no additional consideration into one common share of EIFH upon the satisfaction of certain conditions, at a price of C$18.75 per subscription receipt for a total offering of C$219.5 million. 

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

The subscription receipts offered by EIFH were part of a series of transactions whereby Enbridge Income Fund, through indirect wholly owned subsidiaries, acquired three renewable energy assets for an aggregate price of approximately C$1.23 billion.  The acquisition of the renewable energy assets provided Enbridge Income Fund with immediate scale, diversity and growth in their green power business, making the size of the green power business comparable to the existing gas transmission and crude oil transportation businesses in size and cash flow contribution.

Enbridge Income Fund Holdings, headquartered in Calgary, Alberta, holds high quality energy infrastructure assets through its investment in Enbridge Income Fund.

McCarthy Tétrault LLP represented EIFH, the issuer, with a team led by Doug Ewens.