IE Staff
(September 29 – 13:15 ET) –
Enbridge Inc. today said it entered
a deal with underwriters led by
RBC Dominion Securities Inc.
and Merrill Lynch Canada Inc.
to issue $175 million of preferred
securities.
Each security comprises $25
principal amount of unsecured
junior subordinated debentures
that pays 8% a year on a quarterly
basis, has a term of 49 years
and is redeemable at par by
Enbridge after five years.
A preliminary prospectus will
be filed by Oct. for the issue,
which is only being made in
Canada.