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On February 14, 2025, Enbridge Inc. filed a short form base shelf prospectus to permit the issuance of medium term notes (the “Notes”) during the 25-month period that the prospectus remains valid. The Notes will be direct unsecured obligations of the Corporation, ranking equally with all other unsecured and unsubordinated indebtedness. This filing is a continuation of Enbridge’s medium term note program, last renewed on February 10, 2023. As of the date of the prospectus, approximately $12.3 billion in Canadian dollar Notes and US$16.5 billion (approximately C$22 billion) in U.S. dollar Notes are outstanding.
The Notes will be offered severally by BMO Nesbitt Burns Inc., ATB Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc., or other dealers appointed by Enbridge. Under the Agency Agreement, agent commissions will not exceed 0.75% of the principal amount unless otherwise agreed. Legal matters related to the offering will be reviewed on behalf of the Corporation by McCarthy Tétrault LLP and on behalf of the agents by Osler, Hoskin & Harcourt LLP.
Enbridge has determined it qualifies as a “well-known seasoned issuer” under applicable Canadian WKSI blanket orders, permitting reliance on certain prospectus exemptions. The net proceeds from any sale of Notes will be added to the general funds of the Corporation and used for general corporate purposes, including debt repayment and capital expenditures.
Parties
Company
Enbridge Inc.
Bank
BMO Nesbitt Burns Inc.
Company
ATB Securities Inc.
Bank
CIBC World Markets Inc.
Company
Desjardins Securities Inc.
Company
Merrill Lynch Canada Inc.
Bank
National Bank Financial Inc.
Bank
RBC Dominion Securities Inc.
Bank
Scotia Capital Inc.
Bank
TD Securities Inc.
Deal Type
Public/Private OfferingIndustry
EnergyTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date