Enbridge Inc Announces Closing Of $450 Million Preferred Share Offering

Enbridge Inc announced it has closed its previously announced public offering of Cumulative Redeemable Preference shares, Series N (the Series N Preferred Shares) by a syndicate of underwriters led by RBC Capital Markets, CIBC, Scotiabank, and TD Securities Inc. Enbridge issued 18 million Series N Preferred Shares for gross proceeds of $450 million. The Series N Preferred Shares will begin trading on the TSX under the symbol ENB.PR.N. The net proceeds will be used to partially fund capital projects, to reduce short term indebtedness and for other general corporate purposes.