By Cristal Cody
Prospect News, Aug. 16 - Enbridge Inc. priced an upsized C$350 million of four-year floating-rate notes due Aug. 19, 2015 (Baa1/A-//DBRS: A) at par on Tuesday, according to a bond source.
The deal was upsized from C$200 million and priced at par to yield 100 basis points over the three-month Canadian Dealer Offered Rate.
Guidance on the notes was for a spread in the 100 bps area, plus or minus 3 bps.
RBC Capital Markets Corp. was the bookrunner. Scotia Capital Inc. was co-lead manager.
Calgary, Alta.-based Enbridge Income Fund is an unincorporated open-ended trust that focuses on energy infrastructure assets.
| Issuer: | Enbridge Inc.
|
| Amount: | C$350 million, upsized from C$200 million
|
| Maturity: | Aug. 19, 2015
|
| Securities: | Floating-rate notes
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Co-lead manager: | Scotia Capital Inc.
|
| Coupon: | Three-month CDOR plus 100 bps
|
| Price: | Par
|
| Yield: | Three-month CDOR plus 100 bps
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 19
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| DBRS: A
|
| Distribution: | Canada
|
| Price talk: | CDOR plus 100 bps, plus or minus 3 bps
|
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