Banks take maximum amount of Enbridge stock, boosting financing to $2.3 billion

Enbridge raised $2.3 billion in its latest stock offering.

CALGARY – Enbridge Inc. says it raised $2.3 billion in its latest stock offering since it’s syndicate of underwriters fully exercised their option to buy additional shares in the pipeline operator.

The Calgary-based company had initially planned to raise $2 billion, but the underwriters – including Canada’s five biggest banks – bought one more 7.4 million shares.

The underwriters paid $40.70 per share for that stock. The group includes RBC Capital Markets and it is counterparts at BMO, CIBC, Scotiabank and TD. It also includes Credit Suisse, certainly one of Switzerland’s biggest banks.


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