DBRS Rates Enbridge Inc.’s New Issue at A (low), Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to Enbridge Inc.’s $250 million floating-rate medium-term note issue maturing November 25, 2013. The issue’s coupon will be equal to the floating-rate index (i.e., the one-month banker’s acceptance rate as reported on the Reuters Screen CDOR Page as of 10 a.m. Toronto time on the settlement date and each coupon date thereafter) plus 1.05% on an actual/365 days (fixed) basis. The issue is expected to settle on November 25, 2011.

The notes rank equally with all of Enbridge Inc.’s other senior unsecured indebtedness. Net proceeds from the issue will be used for general corporate purposes, which may include repayment of outstanding indebtedness and financing capital expenditures and investments of Enbridge Inc.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating North American Pipeline and Diversified Energy Companies, which can be found on the DBRS website under Methodologies.