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Enbridge Announces the Closing of CDN$4.6 Billion Common Equity Offering Inclusive of Underwriters' Over-Allotment
Enbridge Announces the Closing of CDN$4.6 Billion Common Equity Offering Inclusive of Underwriter...
About this update from Enbridge Inc.
[{"type":"text","content":"\n \n \n \n Enbridge Announces the Closing of CDN$4.6 Billion Common Equity Offering Inclusive of Underwriters' Over-Allotment\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 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\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. 8, 2023\n \n \n /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced it has closed its previously announced public offering (the Offering) of common shares by a syndicate of underwriters led by RBC Capital Markets and Morgan Stanley, together with BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, Scotiabank, TD Securities as joint bookrunners. Enbridge issued 102,913,500 common shares inclusive of 13,423,500 common shares issued pursuant to the full exercise of the underwriters' over-allotment option. Gross proceeds from the Offering are approximately\n \n CDN$4.6 billion\n \n .\n \n \n Enbridge intends to use the net proceeds from the Offering to finance a portion of the aggregate cash consideration payable for the purchase of local distribution company gas utilities in\n \n the United States\n \n from Dominion Energy, Inc. (the Acquisitions), the details of which were announced in a news release issued by Enbridge on\n \n September 5, 2023\n \n .\n \n \n The exercise of the over-allotment option by the underwriters reduces, and further de-risks, Enbridge's future financing requirements to fund the Acquisitions.\n \n \n This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.\n \n \n A copy of the Can...