Enbridge offers senior notes in parts due 2026, 2028, 2030, 2053

By Mary-Katherine Stinson

Lexington, Ky., Nov. 6 – Enbridge Inc. is marketing four tranches of senior notes with maturities in 2026, 2028, 2030 and 2053, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are guaranteed by indirect wholly owned subsidiaries Enbridge Energy Partners, LP and Spectra Energy Partners, LP.

The notes will not be sold in Canada.

The notes feature a make-whole call, followed by a par call. Each series will also be callable at par due to any changes in Canadian tax law.

Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc. are the joint bookrunning managers.

Deutsche Bank Trust Co. Americas is the trustee.

McCarthy Tetrault LLP and Sullivan & Cromwell LLP are advising the issuer. Baker Botts LLP and Osler, Hoskin & Harcourt LLP are working as counsel to the underwriters.

Proceeds will be used to reduce the company’s existing debt, to finance future growth opportunities, including acquisitions, to finance capital expenditures or for other general corporate purposes.

Enbridge is an energy infrastructure company based in Calgary, Alta.

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