Enbridge Announces Conversion Results for Series L Preferred Shares
August 17, 2017
CALGARY, ALBERTA--(Marketwired - Aug. 17, 2017) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge or the Company) announced today that after having taken into account all conversion notices received from holders of its outstanding Cumulative Redeemable Preference Shares, Series L (Series L Shares) by the August 17, 2017 deadline for the conversion of the Series L Shares into Cumulative Redeemable Preference Shares, Series M of Enbridge (Series M Shares), less than the 1,000,000 Series L Shares required to give effect to conversions into Series M Shares were tendered for conversion. As a result, none of Enbridge's outstanding Series L Shares will be converted into Series M Shares on September 1, 2017.
About Enbridge Inc.
Enbridge Inc. is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline, the majority of which accounts for approximately 65 percent of United States-bound Canadian crude oil exports, and moves approximately 20 percent of all natural gas consumed in the United States serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.5 million retail customers in Ontario, Quebec, New Brunswick and New York State. Enbridge also has a growing involvement in electricity infrastructure with interests in more than 2,500 megawatt hours of net renewable generating capacity in North America and an expanding offshore wind portfolio in Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past eight years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com.
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