Enbridge closes C$3 billion equity offering

Calgary-based Enbridge Inc. successfully closed a C$3 billion equity offering today, issuing 44.7 million common shares. This included 5.8 million shares from the underwriters' over-allotment option. The underwriters, led by RBC Capital Markets and CIBC Capital Markets, participated through joint bookrunners Scotiabank, BMO Capital Markets, TD Securities Inc., and National Bank of Canada Capital Markets.

Enbridge plans to utilize the net proceeds to fund announced acquisitions and enhance financial flexibility for future growth. The company can temporarily allocate a portion of the net proceeds to reduce debt or invest in short-term liquid investments. Enbridge operates across North America, managing natural gas, oil, and renewable power networks, with an offshore wind portfolio in Europe.