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Enbridge closes C$1.5B common share private placement

Enbridge Inc. on Dec. 6 closed its C$1.5 billion private placement of common shares with three institutional investors as part of its goal to raise capital for its C$22 billion spending budget through 2020.

Enbridge recently announced a strategic plan focusing on three core businesses. The plan includes the three-year, C$22 billion capital program, the monetization of C$10 billion in noncore assets and a 10% dividend increase.