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Enbridge closes preferred share offering with C$500M in proceeds

Enbridge Inc. closed its public offering of series 19 preferred shares for gross proceeds of C$500 million.

Enbridge issued 20 million preferred shares, including 4 million shares from the underwriters' full exercise of their overallotment option, according to a Dec. 11 news release.

Proceeds would be used to invest in capital projects, pay down debt and for general corporate purposes.

The syndicate of underwriters were led by Scotiabank, BMO Capital Markets, CIBC Capital Markets and National Bank Financial.