Article: Enbridge Closes $523.1 Million Common Equity Offering

CALGARY, ALBERTA--(CCNMatthews - Feb. 2, 2007) -

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Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it has completed its public offering of 13.5 million treasury common shares at $38.75 per common share for gross proceeds of $523.1 million. Proceeds will be used to reduce outstanding indebtedness, make investments in subsidiaries, and for general corporate purposes. The offering was initially announced January 16, 2007.

Enbridge also announced that it is proceeding with a private placement agreement to sell an additional 1.5 million treasury common shares to Noverco Inc., at the same price as the public ...

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