Enbridge Inc. has announced:
it has closed its previously announced public offering of cumulative redeemable preferred shares, series b (the “Series B Preferred Shares”) by a syndicate of underwriters co-led by Scotia Capital Inc., RBC Capital Markets, and TD Securities Inc. Enbridge issued 20 million Series B Preferred Shares for gross proceeds of $500 million. The Series B Preferred Shares will begin trading on the TSX today under the symbol ENB.PR.B. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.
ENB.PR.B is a FixedReset, 4.00%+240 announced September 21.
The issue traded 978,815 shares in a range of 25.15-25 before closing at 25.19-20, 24×100. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2041-09-30
Maturity Price : 23.18
Evaluated at bid price : 25.19
Bid-YTW : 3.68 %