By Cristal Cody
Prospect News, Aug. 22 - Enbridge Inc. sold an upsized C$400 million of 4.24% 30-year medium-term notes at 99.932 to yield 4.244% on Wednesday, an informed bond source said.
The notes due Aug. 27, 2042 (Baa1/A-/DBRS: A) priced at a spread of 180 basis points over the Government of Canada benchmark.
The deal was upsized from C$200 million.
Scotia Capital Inc., CIBC World Markets Inc. and RBC Capital Markets Corp. were joint lead managers.
Co-managers were BMO Capital Markets Corp., TD Securities Inc., HSBC Capital (Canada) Inc., National Bank Financial Inc., Deutsche Bank AG, J.P. Morgan Securities Inc. and Merrill Lynch Canada Inc.
The notes are callable at the Canada bond yield plus 45 bps.
Enbridge is a Calgary, Alta.-based oil and gas distributor and transportation company.
| Issuer: | Enbridge Inc.
|
| Amount: | C$400 million
|
| Maturity: | Aug. 27, 2042
|
| Securities: | Medium-term notes
|
| Bookrunners: | Scotia Capital Inc., CIBC World Markets Inc. and RBC Capital Markets Corp.
|
| Co-managers: | BMO Capital Markets Corp., TD Securities Inc., HSBC Capital (Canada) Inc., National Bank Financial Inc., Deutsche Bank AG, J.P. Morgan Securities Inc., Merrill Lynch Canada Inc.
|
| Coupon: | 4.24%
|
| Price: | 99.932
|
| Yield: | 4.244%
|
| Spread: | 180 bps over Government of Canada benchmark
|
| Redemption: | Canada bond yield plus 45 bps
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 27
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| DBRS: A
|
| Distribution: | Canada
|
| Marketing: | Quick to market
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
