Enbridge (ENB) Announces CAD$4B Bought-Deal Offering of Common Shares
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Enbridge Inc. (NYSE: ENB) ("Enbridge" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Morgan Stanley, and including BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, Scotiabank, and TD Securities (the "Underwriters") under which the Underwriters have agreed to purchase, on a bought deal basis, 89,490,000 common shares of the Company ("Common Shares") for aggregate gross proceeds of
Enbridge intends to use the net proceeds from the Offering to finance a portion of the cash consideration payable by it for the purchase of local distribution company gas utilities in
The Common Shares will be offered to the public in all of the provinces of
The Offering is expected to close on or about
A copy of the Canadian Prospectus for the Offering is, and a copy of the Canadian Prospectus Supplement will be, available on SEDAR+ (http://www.sedarplus.ca) and a copy of the
The closing of the Offering is not conditional upon the completion of the Acquisitions. In the event that any or all of the Acquisitions are not completed, Enbridge may use the net proceeds from the Offering to reduce its outstanding indebtedness, finance future growth opportunities including acquisitions, finance its capital expenditures, or for other general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This news release contains both historical and forward-looking statements within the meaning of Section 27A of the
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future events and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual events to differ materially from those expressed or implied by such statements.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to the possibility that the Offering does not close when expected, or at all, because conditions to closing are not satisfied on a timely basis, or at all, the possibility that the Acquisitions do not close when expected, or at all, because required regulatory approvals and other conditions to closing are not received or satisfied on a timely basis, and those other risks and uncertainties disclosed in Enbridge's other filings with Canadian and
At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil or renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on two decades of experience in renewable energy to advance new technologies including wind and solar power, hydrogen, renewable natural gas and carbon capture and storage. We're committed to reducing the carbon footprint of the energy we deliver, and to achieving net zero greenhouse gas emissions by 2050. Headquartered in Calgary,
FOR FURTHER INFORMATION PLEASE CONTACT:
Enbridge Inc. – Media
Enbridge Inc. – Investment Community
Toll Free: (888) 992-0997
Toll Free: (800) 481-2804
Email: [email protected]
Email: [email protected]
View original content:https://www.prnewswire.com/news-releases/enbridge-announces-cdn4-0-billion-bought-deal-offering-of-common-shares-301918290.html
SOURCE Enbridge Inc.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, Hot Corp. News
Related EntitiesMorgan Stanley, CIBC, BMO Capital, RBC Capital
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