/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE U.S./
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.
ABOUT ENBRIDGE INC.
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.
SOURCE Enbridge Inc.