CORRECTION FROM SOURCE: Enbridge Announces $500 Million Common Equity Offering

Thu Apr 4, 2013 4:48pm EDT

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Marketwired

Enbridge Inc.

April 4, 2013 - 04:48:05 PM

CORRECTION FROM SOURCE: Enbridge Announces $500 Million Common Equity Offering

CALGARY, ALBERTA--(Marketwired - April 4, 2013) - 

A Correction from Source is being issued in respect to the release that was
issued 4:30pm ET. The Underwriters are RBC Capital Markets and Scotiabank, not
RBC and TD Securities Inc. The complete and corrected version follows.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
U.S.

Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it has entered into an
agreement with RBC Capital Markets and Scotiabank ("the Underwriters") to sell
10,850,000 treasury common shares, on a bought deal basis, at $46.11 per
common share for distribution to the public. Closing of the offering is
expected on or about April 16, 2013. 

Enbridge has granted the Underwriters an option, exercisable at any time up to
48 hours prior to closing of the offering, to purchase up to an additional
2,170,000 treasury common shares at $46.11 per common share.

"Since the long-term funding plan discussed at our investor conference last
fall we have achieved greater than expected progress in the development of
attractive new growth opportunities, including those already announced and
those yet to be" said J. Richard Bird, Enbridge Executive Vice President,
Chief Financial Officer & Corporate Development. "An update to our funding
plan now indicates an incremental equity requirement over the 2012-2016
period. The common share offering today continues our practice of maintaining
a very manageable forward funding requirement. After the common share
offering, and our recent preferred share issue, our net forward equity
requirement stands at $1.9 billion through 2016, which we expect to
accommodate through additional preferred share issues and asset monetizations.
The additional growth investments will contribute to sustaining Enbridge's
industry-leading EPS growth rate through 2016 and well beyond."

Enbridge's updated funding plan is available on our website.

The offering is being made only in Canada by means of a prospectus. Proceeds
will be used to fund our recently announced regional oilsands, renewable
energy, and natural gas pipelines and processing projects, reduce outstanding
indebtedness, to make investments in subsidiaries and for general corporate
purposes.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy the common shares in any jurisdiction. The common shares offered
have not been registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States unless
registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.

About Enbridge Inc.

Enbridge Inc. is a North American leader in delivering energy and one of the
Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge
operates, in Canada and the U.S., the world's longest crude oil and liquids
transportation system. The Company also has a significant and growing
involvement in natural gas gathering, transmission and midstream businesses,
and an increasing involvement in power transmission. As a distributor of
energy, Enbridge owns and operates Canada's largest natural gas distribution
company, and provides distribution services in Ontario, Quebec, New Brunswick
and New York State. As a generator of energy, Enbridge has interests in close
to 1,000 megawatts of renewable and alternative energy generating capacity and
is expanding its interests in wind and solar energy, geothermal and hybrid
fuel cells. Enbridge employs 10,000 people, primarily in Canada and the U.S.
and is ranked as one of Canada's Greenest Employers, and one of the Top 100
Companies to Work for in Canada. Enbridge's common shares trade on the Toronto
and New York stock exchanges under the symbol ENB. For more information, visit
www.enbridge.com.

Certain information provided in this news release constitutes forward-looking
statements. The words "anticipate", "expect", "project", "estimate",
"forecast" and similar expressions are intended to identify such
forward-looking statements. Although Enbridge believes that these statements
are based on information and assumptions which are current, reasonable and
complete, these statements are necessarily subject to a variety of risks and
uncertainties pertaining to operating performance, regulatory parameters,
weather, economic conditions and commodity prices. You can find a discussion
of those risks and uncertainties in our Canadian securities filings and
American SEC filings. While Enbridge makes these forward-looking statements in
good faith, should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
significantly from those expected. Except as may be required by applicable
securities laws, Enbridge assumes no obligation to publicly update or revise
any forward-looking statements made herein or otherwise, whether as a result
of new information, future events or otherwise.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll Free: (888) 992-0997
jennifer.varey@enbridge.com


Enbridge Inc.
Jody Balko
Investment Community
(403) 231-5720
jody.balko@enbridge.com