By Cristal Cody
Prospect News, Nov. 8 - Enbridge Income Fund sold C$100 million 10-year senior medium-term notes (DBRS: BBB) on Monday, a source said.
The 4.85% notes priced at 99.906 to yield 4.862%, or 195 bps over the Canadian government benchmark.
CIBC World Markets Inc. was the lead bookrunner for the deal.
Proceeds will be used to repay debt, including loans under the fund's credit facilities.
Calgary, Alta.-based Enbridge Income Fund is an unincorporated open-ended trust that focuses on energy infrastructure assets.
| Issuer: | Enbridge Income Fund
|
| Amount: | C$100 million
|
| Maturity: | Nov. 12, 2020
|
| Securities: | Senior medium-term notes
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 4.85%
|
| Price: | 99.906
|
| Yield: | 4.862%
|
| Spread: | 195 bps over Canadian government benchmark
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 12
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada
|
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