ENB.PR.J Weak on Modest Volume

Enbridge Inc. has announced:

it has closed its previously announced public offering of Cumulative Redeemable Preference shares, Series 7 (Series 7 Preferred Shares) by a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities Inc. Enbridge issued 10 million Series 7 Preferred Shares for gross proceeds of $250 million which includes the exercise of the underwriters’ option. The Series 7 Preferred Shares will begin trading on the TSX today under the symbol ENB.PR.J. Proceeds will be used to partially fund capital projects, reduce existing indebtedness and for other general corporate purposes of the Corporation and its affiliates.

ENB.PR.J is a FixedReset, 4.40%+257, announced December 3. The issue will be tracked by HIMIPref™ and is assigned to the FixedResets subindex.

The issue traded 436,827 shares today within a range of 24.76-89, before closing at 24.80-85, 10×28.

ENB.PR.J is rated Pfd-2(low) by DBRS.

Vital statistics are:

Maturity Type : Limit Maturity
Maturity Date : 2043-12-12
Maturity Price : 23.08
Evaluated at bid price : 24.80
Bid-YTW : 4.33 %

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