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Article: Enbridge Closes $523.1 Million Common Equity Offering
- Article from:
- CCNMatthews Newswire
- Article date:
- February 2, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(CCNMatthews - Feb. 2, 2007) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE U.S.
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 ...