ENB.PR.D to be Redeemed

Well, it’s not exactly the biggest surprise in the world … Enbridge announced today (via CCN Matthews) that:

Enbridge Inc. (TSX:ENB)(NYSE:ENB) announced today its intention to redeem all 8,000,000 of its outstanding 7.80% preferred securities, at a price of $25.00 each plus accrued interest of $0.2458 per security, for the period following the previously announced December 31, 2006 interest payment date. The redemption date is February 15, 2007, for all of the 7.80% preferred securities, originally issued in February 2002.

So there goes another one of the lovely high-coupon preferred securities!


2 Responses to “ENB.PR.D to be Redeemed”

  1. […] Called yesterday. I guess it was a surprise to some people! […]

  2. […] ENB.PR.D, an interest bearing preferred security, was redeemed today as previously noted. They had, presumably, no difficulty in finding the money for the redemption, what with their recent equity issue and my January gas bill. […]

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