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Enbridge files mixed shelf offering of up to $7 billion - U.S. SEC
August 22, 2016 / 4:31 PM / a year ago

Enbridge files mixed shelf offering of up to $7 billion - U.S. SEC

An Enbridge high pressure oil pipeline sign stands as smoke billows from the Fort McMurray in Kinosis, Alberta, Canada, May 5, 2016. REUTERS/Mark Blinch

CALGARY, Alberta (Reuters) - Enbridge Inc, Canada’s largest pipeline company, filed a mixed shelf offering of up to $7 billion (5.32 billion pounds) with the U.S. Securities and Exchange Commissions on Monday, according to a SEC filing.

The company said the proceeds from the sale of the securities are not expected to be applied to fund any specific project, but will be added to Enbridge’s funds for general corporate purchases.

The mixed shelf will include debt securities, common shares and preference shares and the prospectus is valid for 25 months, according to the filing.

Enbridge has been steadily expanding its North American pipeline network, which carries the bulk of Canadian crude oil exports to the United States.

Earlier this month, it acquired a minority stake in the Bakken Pipeline system through a joint venture, and also won the auction for a stake in EnBW’s Hohe See, one of Europe’s largest offshore wind power projects, according to a source familiar with the matter.

Reporting by Nia Williams, editing by G Crosse

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