By Cristal Cody
Tupelo, Miss., Feb. 18 – Enbridge Inc. priced $750 million of two-year floating-rate senior notes (Baa2/BBB+/BBB+) at par to yield Libor plus 50 basis points on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
BofA Securities, Inc and J.P. Morgan Securities LLC were the bookrunners.
The notes are guaranteed by Spectra Energy Partners, LP and Enbridge Energy Partners, LP.
Proceeds will be used to refinance existing debt and for other general corporate purposes.
The oil and gas distribution and transportation company is based in Calgary, Alta.
| Issuer: | Enbridge Inc.
|
| Guarantors: | Spectra Energy Partners, LP and Enbridge Energy Partners, LP
|
| Amount: | $750 million
|
| Description: | Floating-rate senior notes
|
| Maturity: | Feb. 18, 2022
|
| Bookrunners: | BofA Securities, Inc and J.P. Morgan Securities LLC
|
| Coupon: | Libor plus 50 bps
|
| Price: | Par
|
| Yield: | Libor plus 50 bps
|
| Call feature: | None
|
| Trade date: | Feb. 18
|
| Settlement date: | Feb. 20
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
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