Featured Company News – Enbridge Inc. Announces Expiration and Results of Spectra Energy Capital’s Offer to Purchase Notes due in 2019

LONDON, UK / ACCESSWIRE / July 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Enbridge Inc. (NYSE: ENB), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ENB. The Company announced on July 07, 2017, that the cash tender Offer (the Any and All Tender Offer) announced by its wholly owned subsidiary Spectra Energy Capital LLC for any and all of its outstanding 8.00% senior unsecured notes due 2019 expired at 5:00 P.M. New York City Time on July 06, 2017. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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As per D.F. King & Co., the information agent for the Any and All Tender Offers, a principal amount of approximately US$267.3 million of the Any and All Notes were validly tendered prior to or at the expiration of the Offer and not validly withdrawn. This includes a principal amount of approximately US$65,000 of the Any and All Notes offered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated June 27, 2017. The Any and All Tender Offer was made pursuant to the Offer to Purchase. Spectra Capital’s obligation to accept Any and All Notes and to pay the consideration is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the Offer to Purchase. Spectra Capital is expected to pay for those Any and All Notes for which the above-mentioned conditions are fulfilled.

Holders get a consideration of US$1,137.28 per $1,000 principal amount of Notes

Holders of Any and All Notes, who validly tendered but did not validly withdraw their Any and All Notes prior to the expiration of the Any and All Tender Offer, will receive a consideration of US$1,137.28 for each $1,000 in principal amount of Any and All Notes tendered and accepted for payment. In addition, they will also receive accrued and unpaid interest up to, but not including, July 07, 2017, the expected settlement date of the Any and All Tender Offer.

Purchase to be funded from issuance of Enbridge’s Senior Notes

Spectra Capital plans to fund the purchase of the Any and All Notes partly from the proceeds from the issuance of Enbridge’s 2.90% Senior Notes due 2022 and remaining from Enbridge’s 3.70% Senior Notes due 2027, which is expected to be completed on July 07, 2017.

Enbridge has announced Spectra Capital’s pending tender offers to purchase for cash up to an approximate principal amount of US$6 billion for certain other debt securities of Spectra Capital. Holders of Notes are advised to read the Offer to Purchase carefully before making any decision with respect to the Offers.

Dealer managers and information agents

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are serving as the dealer managers, while D.F. King & Co. Inc. is acting as the tender and information agent for the Offers.

About Enbridge Inc.

Enbridge Inc. is North America’s premier energy infrastructure Company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline, and accounts for nearly 64% of US-bound Canadian crude oil production, and moves approximately 20% of all natural gas consumed in the US serving key supply basins and demand markets. The Company’s regulated utilities serve approximately 3.5 million retail customers in Ontario, Quebec, New Brunswick, and New York State.

Last Close Stock Review

On Friday, July 07, 2017, the stock closed the trading session at $39.81, marginally up 0.33% from its previous closing price of $39.68. A total volume of 1.77 million shares has exchanged hands. Enbridge’s stock price advanced 1.79% in the last one month. The stock is trading at a PE ratio of 45.14 and has a dividend yield of 5.65%. At Friday’s closing price, the stock’s net capitalization stands at $65.14 billion.

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