Enbridge Completes Public Offering Of Shares For US$429.7 Million

Published: Mar 27 2017
Deal Summary

Enbridge Inc., a diversified energy company, through its subsidiary Enbridge Income Fund Holdings Inc., completed the bought deal public offering of 17,347,750 shares, at a price of C$33.15 (US$24.77) per share, for gross proceeds of C$575.08 million (MM) (US$429.73 MM), including the underwriters’ option of 2,262,750 shares.

BMO Capital Markets, CIBC Capital Markets and The Bank of Nova Scotia (Scotiabank) acted as underwriters to the company for the offering. The company intends to use the proceeds from the offering to pay down short-term debt, pending reinvestment by Enbridge in its growing portfolio of secured projects.

Deal history

Completed: On April 18, 2017, Enbridge completed the bought deal public offering of 17,347,750 shares, at a price of C$33.15 (US$24.77) per share, for gross proceeds of C$575.08 MM (US$429.73 MM).

Announced: On March 27, 2017, Enbridge agreed to issue 15,085,000 shares, at a price of C$33.15 (US$24.77) per share, for gross proceeds of C$500 MM (US$373.63 MM), in a bought deal public offering.

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