Enbridge Inc. has announced:
it has closed its previously announced public offering of Cumulative Redeemable Preference shares, Series 3 (the “Series 3 Preferred Shares”) by a syndicate of underwriters led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank. Enbridge issued 24 million Series 3 Preferred Shares for gross proceeds of CAD $600 million. The Series 3 Preferred Shares will begin trading on the TSX today under the symbol ENB.PR.Y. Proceeds will be used to partially fund capital projects, to reduce existing indebtedness and for other general corporate purposes of the Corporation and its affiliates.
ENB.PR.Y is a FixedReset, 4.00%+238, announced May 28.
The issue traded 1,492,004 shares today in a range of 25.03-18 before closing at 25.16-17, 67×20.
ENB.PR.Y will be tracked by HIMIPref™ and is assigned to the FixedResets subindex. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2043-06-06
Maturity Price : 23.15
Evaluated at bid price : 25.16
Bid-YTW : 3.65 %