By Cristal Cody
Prospect News, Nov. 26 - Enbridge Income Fund raised C$200 million in an offering of two-year floating-rate senior medium-term notes, a source with the company said on Monday.
The series 8 notes due Nov. 28, 2014 (Baa2/DBRS: BBB) priced at par to yield 100 basis points over the three-month Canadian Dealer Offered Rate.
BMO Capital Markets Corp., CIBC World Markets Inc. and National Bank Financial Inc. were the lead managers.
Proceeds will be used to repay debt and for general corporate purposes.
Calgary, Alta.-based Enbridge Income Fund focuses on investments in energy infrastructure assets.
| Issuer: | Enbridge Income Fund
|
| Amount: | C$200 million
|
| Maturity: | Nov. 28, 2014
|
| Securities: | Floating-rate senior medium-term notes
|
| Bookrunners: | BMO Capital Markets Corp., CIBC World Markets Inc., National Bank Financial Inc.
|
| Coupon: | Three-month CDOR plus 100 bps
|
| Price: | Par
|
| Yield: | Three-month CDOR plus 100 bps
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody's: Baa2
|
| DBRS: BBB
|
| Distribution: | Canada
|
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