ENB.PR.N Firm on Superb Volume

Enbridge has announced:

it has closed its previously announced public offering of Cumulative Redeemable Preference shares, Series N (the “Series N Preferred Shares”) by a syndicate of underwriters led by RBC Capital Markets, CIBC, Scotiabank, and TD Securities Inc. Enbridge issued 18 million Series N Preferred Shares for gross proceeds of $450 million. The Series N Preferred Shares will begin trading on the TSX today under the symbol ENB.PR.N. The net proceeds will be used to partially fund capital projects, to reduce short term indebtedness and for other general corporate purposes.

The upsizing from the initially announced $250-million issue size was announced July 9:

as a result of strong investor demand for its previously announced offering of cumulative redeemable preference shares, series N (the “Series N Preferred Shares”), the size of the offering has been increased to 18 million shares. The aggregate gross proceeds will be $450 million.

ENB.PR.N is a FixedReset, 4.00%+265, announced July 9.

The issue traded 1,205,755 shares today in a range of 25.00-10 before closing at 25.06-08, 25×70. ENB.PR.N has been added to HIMIPref™ database and assigned to the FixedReset subindex. Vital statistics are:

ENB.PR.N FixedReset Not Calc! YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2042-07-17
Maturity Price : 23.12
Evaluated at bid price : 25.06
Bid-YTW : 3.75 %

This entry was posted on Tuesday, July 17th, 2012 at 10:49 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

8 Responses to “ENB.PR.N Firm on Superb Volume”

  1. July 17, 2012 « PrefBlog says:
    July 17, 2012 at 10:59 pm

    […] PrefBlog Canadian Preferred Shares – Data and Discussion « ENB.PR.N Firm on Superb Volume […]

  2. July 20, 2012 « PrefBlog says:
    July 20, 2012 at 7:42 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-07-20 Maturity Price : 23.13 Evaluated at bid price : 25.10 Bid-YTW : 3.74 % […]

  3. July 27, 2012 « PrefBlog says:
    July 27, 2012 at 8:55 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-07-27 Maturity Price : 23.15 Evaluated at bid price : 25.15 Bid-YTW : 3.69 % […]

  4. July 30, 2012 « PrefBlog says:
    July 30, 2012 at 7:12 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-07-30 Maturity Price : 23.15 Evaluated at bid price : 25.16 Bid-YTW : 3.84 % […]

  5. August 3, 2012 « PrefBlog says:
    August 3, 2012 at 8:04 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-08-03 Maturity Price : 23.16 Evaluated at bid price : 25.20 Bid-YTW : 3.83 % […]

  6. August 7, 2012 « PrefBlog says:
    August 7, 2012 at 8:38 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-08-07 Maturity Price : 23.16 Evaluated at bid price : 25.20 Bid-YTW : 3.89 % […]

  7. August 10, 2012 « PrefBlog says:
    August 10, 2012 at 8:01 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-08-10 Maturity Price : 23.18 Evaluated at bid price : 25.24 Bid-YTW : 3.85 % […]

  8. August 14, 2012 « PrefBlog says:
    August 15, 2012 at 1:44 am

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2042-08-14 Maturity Price : 23.18 Evaluated at bid price : 25.27 Bid-YTW : 3.84 % […]

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