Enbridge Announces Closing of $500 Million Preferred Share Offering, Inclusive of the Exercise of Underwriters' Option

December 11, 2017


CALGARY, Dec. 11, 2017 /CNW/ - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge or the Company) today announced that it has closed its previously announced public offering (the Offering) of Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 19 (the Series 19 Preferred Shares) through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets and National Bank Financial. Enbridge issued 20 million Series 19 Preferred Shares, inclusive of 4 million Series 19 Preferred Shares issued on full exercise of the underwriters' option, for gross proceeds of $500 million. The Series 19 Preferred Shares will begin trading on the Toronto Stock Exchange (TSX) today under the symbol ENB.PF.K. Proceeds from the Offering are expected to be used to partially fund capital projects, to reduce existing indebtedness and for other general corporate purposes of the Company and its affiliates.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the preferred shares in any jurisdiction. The preferred shares offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements 

Certain information provided in this news release constitutes forward-looking information. Forward-looking information, or forward-looking statements, contained in this news release include, but are not limited to, statements with respect to the expected use of proceeds of the Offering and the date on which the Series 19 Preferred Shares will begin trading on the TSX. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as "anticipate", "expect", "project", "estimate", "forecast" and similar words suggesting future outcomes or statements regarding an outlook. Although the Company believes that these statements are based on information which is current, reasonable and complete, these  statements are necessarily subject to a variety of assumptions, risks and uncertainties. Material assumptions, risks and uncertainties include but are not limited to the following: regulatory approvals not being obtained in the manner or timing anticipated, the state of domestic capital markets, changes in general market conditions and other factors more fully described from time to time in the reports and filings made by the Company with Canadian and United States securities regulators. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.


Enbridge Inc. is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 65% of U.S.-bound Canadian crude oil exports; and moves approximately 20% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.6 million retail customers in Ontario, Quebec, New Brunswick and New York State. Enbridge also has interests in more than 2,500 MW of net renewable generating capacity in North America and Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past eight years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB.

For further information: Enbridge Inc. - Media, Suzanne Wilton, (403) 231-7385 or Toll Free: (888) 992-0997, Email: suzanne.wilton@enbridge.com; Enbridge Inc. - Investment Community, Jonathan Gould, (403) 231-3916 or Toll Free: (800) 481-2804, Email: jonathan.gould@enbridge.com

SOURCE Enbridge Inc.