Enbridge Completes $500M Offering

Enbridge Inc. completed its offering of 20,000,000 cumulative redeemable preference shares, series B (“Series B Preferred Shares”) at a price of $25 per Series B Preferred Share for a total offering of $500,000,000. The proceeds of the offering of the Series B Preferred Shares will be utilized to partially fund capital projects and reduce short term indebtedness of Enbridge and its affiliates incurred in the funding of capital projects and other general corporate purposes.

The offering was done by a syndicate of underwriters co-led by Scotia Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc. and HSBC Securities
(Canada) Inc.

The offering was led by Gillian Findlay and Debra Poon of Enbridge's in-house legal team working closely with a team from McCarthy Tétrault LLP that included John Osler, Matthew Lawson and Wilson Acton (securities) and TJ Kang (tax).

The syndicate of underwriters was represented by a team from Fraser Milner Casgrain LLP that included Dale Skin-ner, Toby Allan and Trevor Korsrud (securities) and Anne Calverley (tax).


Gillian E. Findlay Thoburn (Toby) B. Allan Matthew E. Lawson Trevor Korsrud T.J. Kang Anne Calverley Wilson Acton Debra J. Poon