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Enbridge Energy Management LLC Announces Closing of Public Offering of Listed Shares


Friday, 13 Sep 2013 11:41am EDT 

Enbridge Energy Management LLC announced the closing of its previously announced public offering of eight million Listed Shares that priced on September 9, 2013, for net proceeds of approximately $223.7 million after deducting underwriting discounts and commissions and offering expenses. Enbridge Management expects to use a portion of the net proceeds from this offering to invest in an equal number of i-units of Enbridge Energy Partners, L.P. (Enbridge Partners). Enbridge Partners intends to utilize such proceeds to repay commercial paper, to finance a portion of its capital expansion program relating to its core liquids and natural gas systems and for general partnership purposes. Some or all of the net proceeds of this offering may be invested temporarily in short-term investment grade securities pending their use for such purposes. Citigroup, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the offering. 

Company Quote

34.98
0.01 +0.03%
23 Jul 2014