Enbridge Inc. has announced:
it has 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 $400 million. The Series P Preferred Shares will begin trading on the TSX today 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.
ENB.PR.P is a FixedReset, 4.00%+250, announced September 4. It will be tracked by HIMIPref™ and assigned to the FixedReset index.
The issue traded 567,120 shares today in a range of 24.84-90 before closing at 24.88-91, 246×50. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2042-09-13
Maturity Price : 23.05
Evaluated at bid price : 24.88
Bid-YTW : 3.81 %