By Cristal Cody
Prospect News, July 17 - Enbridge Pipelines Inc. priced a rare 100-year offering on Tuesday when it sold C$100 million 4.1% medium-term notes at par, a bond source said.
The notes due July 18, 2112 (DBRS: A) priced at a spread of 185 basis points over the Government of Canada benchmark.
BMO Capital Markets Corp. was the manager.
Proceeds will be used to repay short-term debt and for general corporate purposes.
The company is a unit of Enbridge Inc., a Calgary, Alta.-based oil and gas distributor and transportation company.
| Issuer: | Enbridge Pipelines Inc.
|
| Amount: | C$100 million
|
| Maturity: | July 18, 2112
|
| Securities: | Medium-term notes
|
| Bookrunner: | BMO Capital Markets Corp.
|
| Coupon: | 4.1%
|
| Price: | Par
|
| Yield: | 4.1%
|
| Spread: | 185 bps over Government of Canada benchmark
|
| Pricing date: | July 17
|
| Settlement date: | July 18
|
| Rating: | DBRS: A
|
| Distribution: | Canada
|
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