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Enbridge, Enbridge Income Fund complete note exchange after merger


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Enbridge, Enbridge Income Fund complete note exchange after merger

Enbridge Inc. and Enbridge Income Fund Holdings Inc. completed an exchange of outstanding Enbridge Income Fund medium-term notes for the same amount of new Enbridge medium-term notes, as part of Enbridge's simplification of its corporate structure.

The newly issued Enbridge medium-term notes have the same financial terms as the Enbridge Income Fund notes, including the maturity dates and interest rates, according to a Dec. 21 news release.

The exchanged notes are 4.10% notes due Feb. 22, 2019; 4.85% notes due Nov. 12, 2020; 4.85% notes due Feb. 22, 2022; 3.94% notes due Jan. 13, 2023; 3.95% notes due Nov. 19, 2024; and 4.87% notes due Nov. 21, 2044.

BMO Capital Markets acted as solicitation agent, AST Trust Company (Canada) acted as the tabulation agent, and D.F. King Canada served as the information agent.

Enbridge in December completed its roll-ups of its sponsored affiliates, including Enbridge Income Fund Holdings. Enbridge is one of the largest energy infrastructure companies in North America, owning crude oil, liquids and natural gas pipelines, gas distribution utilities and renewable power generation.