Enbridge Inc Announces $250 Million Preferred Share Offering

Enbridge Inc. announced that it has entered into an agreement with a group of underwriters to sell 10 million cumulative redeemable preference shares, series N (the Series N Preferred Shares) at a price of $25.00 per share for distribution to the public. Closing of the offering is expected on July 17, 2012. Enbridge has granted to the underwriters an option, exercisable at any time up to 48 hours prior to the closing of the offering, to purchase up to an additional two million Series N Preferred Shares at a price of $25.00 per share. The offering is being made only in Canada by means of a prospectus. Proceeds will be used to partially fund capital projects, to reduce existing indebtedness and for other general corporate purposes of the Corporation and its affiliates. The syndicate of underwriters is co-led by RBC Capital Markets, CIBC, Scotiabank, and TD Securities Inc.