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Enbridge Inc (ENB.N)

ENB.N on New York Stock Exchange

41.79USD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Enbridge inc. Announces $1.075-billion sale of South Prairie region assets
Thursday, 29 Sep 2016 05:15pm EDT 

Enbridge Inc : Enbridge Inc says closing of transaction is expected to occur around end of Q4 of 2016 . Transaction is accretive to Fund Group's available cash flow from operations on a per unit basis . Assets divested on thursday do not include bakken expansion pipeline . An affiliate of Enbridge income fund entered into an agreement for sale of fund's liquids pipelines assets in south prairie region to tundra energy marketing . Assets do not include Bakken expansion pipeline . Announces $1.075 Billion sale of South Prairie region assets . As part of purchase and sale agreement, shipper commercial arrangements and contracts are expected to remain in place . Assets being sold are liquids pipelines and related facilities in Southeast Saskatchewan and Southwest Manitoba . Expected that crude oil and NGL volumes delivered from assets will continue to flow onto enbridge mainline at Cromer .As part of purchase and sale agreement, shipper commercial arrangements and contracts are expected to remain in place.  Full Article

Moody's affirms Enbridge on Spectra announcement
Tuesday, 6 Sep 2016 04:37pm EDT 

Moody's : Moody's affirms Enbridge and subsidiaries on spectra announcement; outlooks remain negative .Maintaining a negative rating outlook for enbridge until company executes transaction, large capital program in 2017 and deleveraging plans.  Full Article

S&P affirms Enbridge Inc., Enbridge Pipelines Inc. ratings at 'BBB+' on announced merger with Spectra Energy Corp
Tuesday, 6 Sep 2016 02:22pm EDT 

S&P Global Ratings:Enbridge Inc., Enbridge Pipelines Inc. ratings affirmed at 'BBB+' on announced merger with Spectra Energy Corp..  Full Article

Moody's affirms Spectra Energy ratings, stable outlook
Tuesday, 6 Sep 2016 02:01pm EDT 

Moody's:Moody's affirms Spectra Energy ratings, stable outlook.  Full Article

Enbridge will assume about $22 bln of existing Spectra debt - Conf Call
Tuesday, 6 Sep 2016 09:37am EDT 

Enbridge Inc : Will assume about $22 billion of existing Spectra debt . Said about 694 million new shares issued Further company coverage: [ENB.TO] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Enbridge to buy Spectra in a deal valued at about C$37 billion
Tuesday, 6 Sep 2016 06:59am EDT 

Spectra Energy Corp : Enbridge and Spectra energy to combine to create North America's premier energy infrastructure company with C$165 billion enterprise value . Enbridge and Spectra Energy to combine to create North America's premier energy infrastructure company with c$165 billion enterprise value . Spectra Energy shareholders will receive 0.984 shares of combined company for each share of Spectra Energy common stock they own . Transaction was unanimously approved by boards of directors of both companies and is expected to close in q1 of 2017 . Deal for C$37 billion (US$28 billion) . Upon completion of transaction, Enbridge shareholders are expected to own approximately 57 percent of combined company . Consideration to be received by Spectra Energy shareholders is valued at US$40.33 per Spectra Energy share . Combined company will be called Enbridge Inc . Upon completion of transaction, Spectra Energy shareholders are expected to own approximately 43 percent of combined co . Consideration to be received by spectra energy shareholders is valued at US$40.33 per Spectra Energy share . Upon completion of transaction, Enbridge shareholders are expected to own approximately 57 percent of combined company . Upon closing of transaction, Al Monaco will continue to serve as president and chief executive officer of combined company . Greg Ebel will serve as non-executive chairman of Enbridge's board of directors.  Full Article

Enbridge Energy plans to defer implementation of Sandpiper beyond co's current 5-yr planning horizon
Thursday, 1 Sep 2016 05:42pm EDT 

Enbridge Inc : Enbridge Energy Partners, L.P. plans to defer implementation of Sandpiper beyond company's current five-year planning horizon . Has confirmed that its consolidated funding plan through 2019 is not expected to require any incremental equity capital as a result of events . Negotiated tentative joint funding arrangement with EEP through which equity investment in Bakken pipeline will be jointly funded . Anticipated investment in Bakken pipeline will be jointly funded 75 percent by Enbridge, through Enbridge energy company and 25 percent by EEP .Affiliate will withdraw regulatory applications pending with Minnesota Public Utilities Commission associated with Sandpiper project.  Full Article

Enbridge - Enbridge Energy Partners L.P and Marathon Petroleum form new JV
Thursday, 1 Sep 2016 10:42am EDT 

Enbridge : Enbridge Energy Partners, L.P. and co announced today that EEP and Marathon Petroleum Corporation have formed a new joint venture . JV entered into an agreement to acquire a 49 percent equity interest in holding company that owns 75 percent of the Bakken pipeline system . Bakken pipeline system purchased from an affiliate of Energy Transfer Partners, L.P. and Sunoco Logistics Partners L.P. . EEP, Marathon Petroleum would indirectly hold 75 percent and 25 percent, respectively, of JV's 49 percent interest in holding co of Bakken pipeline . Purchase price of EEP’s effective 27.6 percent interest in the system is US$1.5 billion . Purchased system consists of the Dakota Access Pipeline (“DAPL”) and the Energy Transfer Crude Oil Pipeline (“ETCO”) projects Source - http://bit.ly/2c3LdT7 ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Destin Pipeline says evacuating all staff from MP 260 platform
Monday, 29 Aug 2016 07:57pm EDT 

Destin Pipeline Co LLC: Destin Pipeline says all personnel have been evacuated from the MP 260 platform. . Destin Pipeline says all receipt points at MP 260, including the Okeanos Gas Gathering System, Marlin and Horn Mountain have been shut in. . Destin Pipeline says all delivery points, including VKGS have also been shut in. . Destin Pipeline says transportation service to its 24 inch lateral continues to be available for deliveries to MP 261JP. . Destin Pipeline says 24 inch lateral will remain isolated from MP 260, and its to flow on the 24 inch lateral will be dependent on downstream operations. Related: Destin Pipeline says evacuating non-essential staff from offshore facilities [nFWN1B70K5] The company is majority owned by BP Plc with Enbridge Inc a minority partner. (Reporting by Harshith Aranya in Bengaluru) ((BLRCEEditorial@thomsonreuters.com;)).  Full Article

Enbridge says files for mixed shelf of up to $7 bln with U.S. SEC
Monday, 22 Aug 2016 11:40am EDT 

Enbridge Inc : Says files for mixed shelf of up to $7 billion with U.S. SEC - SEC Filing . Net proceeds from the mixed shelf offering are not expected to be applied to fund any specific project Source - http://bit.ly/2bH3H92 Further company coverage: [ENB.TO] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

BRIEF-Enbridge increases size of preferred share offering

* Says size of offering has been increased to 30 million from 20 million