By Cristal Cody
Prospect News, Nov. 29 - Enbridge Inc. (Baa1/A-/DBRS: A) sold C$350 million of 3.19% 10-year medium-term notes in a late-afternoon deal on Thursday at 99.932 to yield 3.198%, an informed source said.
The notes priced at a spread of 143 basis points over the interpolated Government of Canada bond curve.
TD Securities Inc., Scotia Capital Inc. and RBC Capital Markets Corp. were the lead managers.
At the start of the week, Enbridge raised C$400 million in an offering of preferred shares due June 1, 2019. The issuer last sold bonds in Canada on Aug. 22 when it priced C$400 million of 4.24% 30-year medium-term notes.
Enbridge is a Calgary, Alta.-based oil and gas distributor and transportation company.
| Issuer: | Enbridge Inc.
|
| Amount: | C$350 million
|
| Maturity: | Dec. 5, 2022
|
| Securities: | Medium-term notes
|
| Bookrunners: | TD Securities Inc., Scotia Capital Inc., RBC Capital Markets Corp.
|
| Coupon: | 3.19%
|
| Price: | 99.932
|
| Yield: | 3.198%
|
| Spread: | 143 bps over Government of Canada bond curve
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| DBRS: A
|
| Distribution: | Canada
|
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