DBRS Rates Enbridge Inc.’s New Issues at A (low), Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to Enbridge Inc.’s issuance of USD 500 million 3.50% senior unsecured medium-term notes (Notes) maturing on June 10, 2024; USD 500 million 4.50% Notes maturing on June 10, 2044; and USD 500 million Notes with a Floating Rate Coupon of three-month USD LIBOR plus 0.45% due June 2, 2017 (collectively, the Notes). The Notes are expected to settle on June 4, 2014.

The Notes rank equally with all of Enbridge Inc.’s existing senior unsecured indebtedness. Net proceeds from the issue will be used for general corporate purposes, which may include repayment of outstanding indebtedness and financing capital expenditures and investments of Enbridge Inc.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodology is Rating Pipeline and Diversified Energy Companies (January 2014), which can be found on our website under Methodologies.