Enbridge plans offering of hybrid subordinated debt in Canada

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Enbridge Inc. is considering an offering of hybrid subordinated debt securities in Canada on a private placement basis, according to a news release.

The company would use proceeds to redeem its outstanding cumulative redeemable minimum rate reset preference shares, series 17, in accordance with their terms, and pending such redemption, to repay short-term debt as well as for general corporate purposes.

The oil and gas distribution and transportation company is based in Calgary, Alta.

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