Summary
Enbridge Inc. (ENB) announced the completion of a significant debt offering on November 9, 2023. The company successfully issued US$3.5 billion in aggregate principal amount across multiple senior notes with varying maturities and interest rates: 5.900% Senior Notes due 2026, 6.000% Senior Notes due 2028, 6.200% Senior Notes due 2030, and 6.700% Senior Notes due 2053. These notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, which are indirect, wholly-owned subsidiaries of Enbridge.
Key Highlights
- 1Completion of a substantial US$3.5 billion senior notes offering.
- 2Notes issued with maturities ranging from 2026 to 2053, offering staggered debt repayment.
- 3Interest rates on the notes vary from 5.900% to 6.700%, reflecting market conditions at the time of issuance.
- 4The offering was conducted under Enbridge's existing Form S-3 Registration Statement filed in July 2022.
- 5Key subsidiaries, Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, provided full and unconditional guarantees for the notes.
- 6The filing includes various supporting documents such as the underwriting agreement, officers' certificates, forms of global notes, and legal opinions.