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DBRS rates Enbridge notes BBB
DBRS said it has assigned a rating of BBB (high) with a stable trend to the following Enbridge Income Fund new debt issuance:
• C$225 million of 2.92% senior unsecured medium-term notes, series 9, maturing on Dec. 14, 2017; and
• C$275 million of 3.94% notes, series 10, maturing on Jan. 13, 2023.
Net proceeds from the issue will be used to repay indebtedness of the fund, including related party indebtedness, and for general corporate purposes, the agency said.
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