Enbridge Announces Conversion Results for Series R Preferred Shares
May 17, 2019
CALGARY, May 17, 2019 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that none of Enbridge's outstanding Cumulative Redeemable Preference Shares, Series R (Series R Shares) will be converted into Cumulative Redeemable Preference Shares, Series S of Enbridge (Series S Shares) on June 1, 2019.
After taking into account all conversion notices received from holders of its outstanding Series R Shares by the May 17, 2019 deadline for the conversion of the Series R Shares into Series S Shares, less than the 1,000,000 Series R Shares required to give effect to conversions into Series S Shares were tendered for conversion.
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 2.9 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 62% of U.S.-bound Canadian crude oil exports; and moves approximately 18% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec, and New Brunswick. Enbridge also generates approximately 1,600 MW of net renewable energy power in North America and Europe. The Company's 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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SOURCE Enbridge Inc.