Enbridge closes CDN$3B common equity offering

Enbridge Inc. (NYSE: ENB) has closed a public offering of common shares, raising gross proceeds of approximately CDN$3.0 billion, according to a company press release.

Enbridge issued 44,735,000 common shares in total, including 5,835,000 shares sold through the full exercise of the underwriters' over-allotment option. The offering was led by RBC Capital Markets and CIBC Capital Markets, with Scotiabank, BMO Capital Markets, TD Securities Inc., and National Bank of Canada Capital Markets serving as joint bookrunners.

The company stated it intends to use the net proceeds to partially fund previously announced acquisitions and to provide financial flexibility for potential future growth. A portion of the proceeds may also be used temporarily to reduce debt or be invested in short-term liquid investments.

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