trending Market Intelligence /marketintelligence/en/news-insights/trending/HX9QNitY_s6zIfJJrBX7oA2 content esgSubNav
In This List

Enbridge offers $700M of senior notes due 2020


According to Market Intelligence, December 2022


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Energy Evolution | Building electrification movement gathers East Coast momentum


Energy Evolution | Europe's looming energy crisis

Enbridge offers $700M of senior notes due 2020

Enbridge Inc. launched an offering of $700 million of its floating rate senior notes due 2020.

Interest on the notes will be paid every Jan. 10, April 10, July 10 and Oct 10 of each year starting Jan. 10, 2018. The notes bear an interest rate equal to the 3 month London Interbank Offered Rate plus 40 basis points per year. The notes may not be redeemed prior to maturity unless in whole, at any time, if certain changes affecting Canadian withholding taxes occur, according an Oct. 4 prospectus supplement.

The company intends to use the net proceeds from the offering, expected to amount to about $697.5 million, to partially fund capital projects, reduce indebtedness and for other general purposes.

BofA Merrill Lynch is acting sole book-running manager for the offering.