CALGARY, AB, Jan. 4, 2022 /CNW/ - Enbridge Inc. (TSX:
ENB) (NYSE: ENB) (Enbridge or the Company) announced today that,
subject to market and other conditions, it is considering an
offering of hybrid subordinated debt securities in Canada on a private placement basis in
reliance upon exemptions from the prospectus requirements under
applicable securities legislation.
If a successful offering is completed, the Company intends to
use the net proceeds of the offering to redeem its issued and
outstanding Cumulative Redeemable Minimum Rate Reset Preference
Shares, Series 17 (TSX: ENB.PF.I), in accordance with their terms,
and pending such redemption, to repay short-term indebtedness as
well as for general corporate purposes.
This news release does not constitute a notice of redemption
with respect to the Cumulative Redeemable Minimum Rate Reset
Preference Shares, Series 17, nor does it constitute an offer to
sell or the solicitation of an offer to buy the hybrid subordinated
debt securities in any jurisdiction. There is no certainty that
Enbridge will ultimately complete the offering being considered or
as to the timing or terms on which an offering might be completed.
The hybrid subordinated debt securities considered to be offered by
the Company have not been approved or disapproved by any regulatory
authority. The hybrid subordinated debt securities have not been
and will not be registered under the United States Securities Act
of 1933, as amended, or any state securities law, and may not be
offered or sold within the United
States.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy
infrastructure company. We safely and reliably deliver the energy
people need and want to fuel quality of life. Our core businesses
include Liquids Pipelines, which transports approximately 25
percent of the crude oil produced in North America; Gas Transmission and Midstream,
which transports approximately 20 percent of the natural gas
consumed in the U.S.; Gas Distribution and Storage, which serves
approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which
owns approximately 1,766 megawatts (net) in renewable power
generation capacity in North
America and Europe. The
Company's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB. For more
information, visit www.enbridge.com.
Forward-Looking Information
Forward-looking information, or forward-looking statements,
have been included in this news release to provide information
about Enbridge and its subsidiaries and affiliates, including
management's assessment of Enbridge and its subsidiaries' future
plans and operations. This information may not be appropriate for
other purposes. Forward-looking statements are typically identified
by words such as ''anticipate'', ''expect'', ''project'',
''estimate'', ''forecast'', ''plan'', ''intend'', ''target'',
''believe'', "likely", "will" and similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking
information or statements in this news release include statements
with respect to Enbridge's consideration of an offering of
hybrid subordinated debt securities, the proposed redemption of
Enbridge's outstanding Cumulative Redeemable Minimum Rate Reset
Preference Shares, Series 17 and the intended use of the net
proceeds from any successful offering of hybrid subordinated debt
securities.
Although Enbridge believes these forward-looking statements
are reasonable based on the information available on the date such
statements are made and processes used to prepare the information,
such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on
forward-looking statements. By their nature, these statements
involve a variety of assumptions, known and unknown risks and
uncertainties and other factors, which may cause actual results,
levels of activity and achievements to differ materially from those
expressed or implied by such statements. Assumptions regarding the
expected supply of and demand for crude oil, natural gas, NGL and
renewable energy, and the prices of these commodities, are material
to and underlie all forward-looking statements, as they may impact
current and future levels of demand for the Company's services.
Similarly, energy transition, including the drivers and pace
thereof, the COVID-19 pandemic, exchange rates, inflation and
interest rates impact the economies and business environments in
which the Company operates and may impact levels of demand for the
Company's services and cost of inputs, and are therefore inherent
in all forward-looking statements. Due to the interdependencies and
correlation of these macroeconomic factors, the impact of any one
assumption on a forward-looking statement cannot be determined with
certainty.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including but not limited to those risks and
uncertainties discussed in this news release and in the Company's
other filings with Canadian and United
States securities regulators. The impact of any one risk,
uncertainty or factor on a particular forward-looking statement is
not determinable with certainty as these are interdependent and
Enbridge's future course of action depends on management's
assessment of all information available at the relevant time.
Except to the extent required by applicable law, Enbridge assumes
no obligation to publicly update or revise any forward-looking
statements made in this news release or otherwise, whether as a
result of new information, future events or otherwise. All
subsequent forward-looking statements, whether written or oral,
attributable to Enbridge or persons acting on the Company's behalf,
are expressly qualified in their entirety by these cautionary
statements.
This news release does not constitute or form part of, and
should not be construed as, an offer to purchase or an invitation
to sell securities of Enbridge, or the solicitation of an offer to
purchase securities of Enbridge, and nothing contained herein shall
form the basis of or be relied on in connection with any contract
or commitment.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Toll Free: (888) 992-0997
Email:
media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.
