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Enbridge Completes $1.4 Billion Public Offering

Calgary-based energy infrastructure company Enbridge Inc. completed a public offering of $700 million aggregate principal amount of 2.90% senior notes due 2022 and $700 million aggregate principal amount of 3.70% senior notes due 2027. Paul, Weiss represented the underwriters, led by J.P. Morgan Securities LLC, Citigroup Global Markets Inc., SMBC Nikko Securities America Inc., and Wells Fargo Securities, LLC, in the transaction, which was completed on July 7.

Concurrently with the notes offering, Enbridge subsidiary Spectra Energy Capital, LLC launched tender offers to purchase a portion of its outstanding long-term indebtedness. The net proceeds from the public offering will be used to fund Spectra’s purchase of the tendered notes.

The Paul, Weiss team included corporate partner Christopher Cummings, counsel Stephen Centa; tax partner David Mayo; and environmental counsel William O’Brien.

July 7, 2017

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