Enbridge Inc. (Enbridge) has announced that it has closed its previously announced public offering of cumulative redeemable minimum rate reset preference shares, Series 17 (Series 17 Preferred Shares) by a syndicate of underwriters led by TD Securities Inc., CIBC Capital Markets, Scotiabank, and RBC Capital Markets.
Enbridge issued 30 million Series 17 Preferred Shares for gross proceeds of CAN$750 million. The Series 17 Preferred Shares will begin trading on the TSX on 23 November under the symbol ENB.PF.I.
Proceeds 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.
Read the article online at: https://www.worldpipelines.com/business-news/28112016/enbridge-closes-preferred-share-offering/