Key Developments: Enbridge Inc (ENB)
43.59USD
19 Jun 2013
$-1.19 (-2.66%)
$44.78
$44.73
$44.83
$43.32
1,102,478
904,483
$48.41
$37.67
Latest Key Developments (Source: Significant Developments)
Enbridge Inc Announces Closing of CAD600 Million Preferred Share Offering
Enbridge Inc announced it has closed its previously announced public offering of Cumulative Redeemable Preference shares, Series 3 (the Series 3 Preferred Shares) by a syndicate of underwriters led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank. Enbridge issued 24 million Series 3 Preferred Shares for gross proceeds of CAD $600 million. The Series 3 Preferred Shares will begin trading on the TSX today under the symbol ENB.PR.Y. 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. Full Article
Enbridge Inc Increases Size Of Preferred Share Offering
Enbridge Inc announced that offering of cumulative redeemable preference shares, series 3 (the Series 3 Preferred Shares), the size of the offering has been increased to 24million shares. The aggregate gross proceeds will be CAD600 million. Closing of the offering is expected on June 6, 2013. The syndicate of underwriters is co-led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank. The holders of Series 3 Preferred Shares will be entitled to receive fixed cumulative dividends at an annual rate of $1.00 per share, payable quarterly on the 1st day of March, June, September and December, as and when declared by the Board of Directors of Enbridge, yielding 4.00% per annum, for the initial fixed rate period to but excluding September 1, 2019. The first quarterly dividend payment date is scheduled for September 1, 2013. The Series 3 Preferred Shares are redeemable by Enbridge, at its option, on September 1, 2019 and on September 1 of every fifth year thereafter. The holders of Series 3 Preferred Shares will have the right to convert their shares into cumulative redeemable preference shares, series 4 subject to certain conditions, on September 1, 2019 and on September 1 of every fifth year thereafter. The holders of Series 4 Preferred Shares will be entitled to receive quarterly floating rate cumulative dividends, as and when declared by the Board of Directors of Enbridge, at a rate equal to the sum of the then 90-day Government of Canada treasury bill rate plus 2.38%. Full Article
Enbridge Inc Announces CAD300 Million Preferred Share Offering
Enbridge Inc announced that it has entered into an agreement with a group of underwriters to sell 12 million cumulative redeemable preference shares, series 3 (the Series 3 Preferred Shares) at a price of CAD25.00 per share for distribution to the public. The aggregate gross proceeds will be CAD300 million. Closing of the offering is expected on June 6, 2013. 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 2 million Series 3 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 TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank. Full Article
Enbridge Inc Reaffirms FY 2013 EPS Guidance
Enbridge Inc announced that for fiscal 2013, it expects adjusted earnings in the range of $1.74 to $1.90 per common share (EPS). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.80 for fiscal 2013. Full Article
Enbridge Inc Declares Quarterly Dividends
Enbridge Inc announced that Board of Directors has declared a quarterly dividend of $0.315 per common share, payable on June 1, 2013 to shareholders of record on May 15, 2013. The amount of the dividend is consistent with the March 1, 2013 dividend. Full Article
Enbridge Inc Announces Closing Of $600 Million Common Equity Offering
Enbridge Inc announced that it has closed its previously announced public offering of common shares underwritten by RBC Capital Markets and Scotiabank. Enbridge issued 13.02 million common shares for gross proceeds of $600.4 million. 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. Full Article
Enbridge Inc Announces Full Exercise of Underwriters' Option
Enbridge Inc announced that further to the public offering of 10,850,000 common shares previously announced on April 4, 2013 (the Offering), RBC Capital Markets and Scotiabank have exercised the underwriters' option granted to them to purchase an additional 2,170,000 common shares. Gross proceeds from the Offering, inclusive of the underwriters' option, are expected to be approximately $600 million. Closing of the Offering is expected on or about April 16, 2013. 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. Full Article
Enbridge Inc And EDF Energies Nouvelles's EDF EN Canada Inc Acquire 300 MW Blackspring Ridge Wind Project
Enbridge Inc and EDF EN Canada Inc., a subsidiary of EDF Energies Nouvelles announced that they have jointly signed a purchase agreement with Greengate Power Corporation to acquire the 300 megawatt (MW) Blackspring Ridge Wind Project. Located in Vulcan County, Alberta (50 km north of Lethbridge), Blackspring Ridge will be the wind project in Western Canada when operational. EDF EN Canada and Enbridge will each own 50% of the project. The project, currently in late stage development, will be comprised of 166 Vestas V100-1.8 MW wind turbines. EDF EN Canada will build the project under a fixed price engineering, procurement and construction contract with construction expected to start in the second quarter of 2013 and reach commissioning in mid-summer 2014. Full Article
Enbridge Inc Announces $500 Million Common Equity Offering
Enbridge Inc announced that it has entered into an agreement with RBC and TD Securities Inc. (the Underwriters) to sell 10,850,000 million 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 million treasury common shares at $46.11 per common share. 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. Full Article
Enbridge Inc Announces Closing of USD400 Million Preferred Share Offering
Enbridge Inc announced that it has closed previously announced public offering of Cumulative Redeemable Preference Shares, Series 1 (the Series 1 Preferred Shares) by a syndicate of underwriters led by Scotiabank, CIBC, RBC Capital Markets, and TD Securities Enbridge issued 16 million Series 1 Preferred Shares for gross proceeds of USD400 million. The Series 1 Preferred Shares will begin trading on the Toronto Stock Exchange (TSX) under the symbol ENB.PR.V. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes. Full Article
British Columbia says pipeline conditions must still be met
CALGARY, Alberta, June 14 - British Columbia Premier Christy Clark said on Friday she does not support the construction of Enbridge Inc's C$6 billion ($5.8 billion) Northern Gateway pipeline plan unless five conditions are met, but did not rule out eventually approving the project.
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