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Enbridge Announces CDN$4.0 Billion Bought-Deal Offering of Common Shares
Enbridge Announces CDN$4.0 Billion Bought-Deal Offering of Common Shares Canada NewsWir...
About this update from Enbridge Inc.
[{"type":"text","content":"\n \n \n \n Enbridge Announces CDN$4.0 Billion Bought-Deal Offering of Common Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnml6{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.50em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Sept. 5, 2023\n \n \n /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (\"Enbridge\" or the \"Company\") today announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Morgan Stanley, and including BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, Scotiabank, and TD Securities (the \"Underwriters\") under which the Underwriters have agreed to purchase, on a bought deal basis, 89,490,000 common shares of the Company (\"Common Shares\") for aggregate gross proceeds of\n \n CDN$4 billion\n \n at an offering price of\n \n CDN$44.70\n \n per Common Share (the \"Offering\").\n \n \n Enbridge intends to use the net proceeds from the Offering to finance a portion of the cash consideration payable by it for the purchase of local distribution company gas utilities in\n \n the United States\n \n from Dominion Energy, Inc., the details of which were announced today in a separate news release issued by Enbridge (the \"Acquisitions\").\n \n \n The Common Shares will be offered to the public in all of the provinces of\n \n Canada\n \n through the Underwriters and their affiliates by way of a Canadian prospectus supplement (the \"Canadian Prospectus Supplement\") to Enbridge's short form base shelf prospectus dated\n \n September 5, 2023\n \n (the \"Canadian Prospectus\"). The Common Shares will be offered to the public in\n \n the United States\n \n pursuant to Enbridge's registration statement, including a prospectus (the \"U.S. Prospectus\"), filed with the U.S. Securities and Exchange Commission (the \"SEC\"), and a p...