Enbridge files to enable at-the-market equity issuance program

Enbridge (ENB) announced that it has made certain Canadian and U.S. securities filings to enable an at-the-market equity issuance program. The ATM Option provides Enbridge with additional flexibility to partially fund its previously announced acquisitions of three U.S. natural gas utilities from Dominion Energy (D) and the company intends that proceeds would be used for that purpose. The company continues to have a variety of alternative funding options available to it for the Acquisitions, including the issuance of senior unsecured notes and junior subordinated (hybrid) debt, and its ongoing capital recycling program. Pursuant to the ATM Option, Enbridge may issue and sell, at its discretion, up to $2.75B of common shares of the company from treasury to the public from time to time, at the market prices prevailing at the time of sale through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace in Canada or the United States where the Common Shares may be traded, and, as a result, prices at which the Common Shares are sold may vary among purchasers and during the period of any distribution.