TRC Capital offers to buy up to C$100 million Enbridge notes due 2042

By Marisa Wong

Los Angeles, Sept. 8 – TRC Capital Investment Corp. has begun a cash tender offer to purchase up to C$100 million of the 4.24% senior notes due 2042 issued by Enbridge Inc. (Cusip: 29251ZBB2), according to a Thursday press release.

The tender offer will expire at 12:01 a.m. ET on Oct. 7.

TRC is offering a consideration per C$1,000 principal amount of tendered notes of C$780.50, inclusive of accrued interest to but excluding the settlement date.

The company said it will purchase any and all notes that have been tendered and accepted, subject to all conditions to the tender offer having been satisfied or waived, promptly following the expiration time. The settlement date is expected to occur within two business days after that.

Tenders may be withdrawn at or prior to the expiration date.

The tender offer is not conditioned on any minimum amount being tendered.

The company said it may amend, extend or terminate the tender offer at any time at its discretion.

The information and tender agent is CNRA Financial Services Inc. (416 861-9446).

TRC is a private investment company based in Toronto. Calgary, Alta.-based Enbridge owns and operates oil and gas pipelines in Canada and the United States.

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