logo
Plus   Neg
Share
Email
Comment

Enbridge Energy Management Prices Offering Of 9 Mln Listed Shares

Enbridge Energy Management, L.L.C. (EEQ) said Tuesday that it has priced an underwritten public offering of 9 million of its listed shares for total gross proceeds, before underwriters' discounts and commissions and estimated offering expenses, of about $245.6 million.

The underwriters have offered the listed shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.

The offering is expected to close on March 1.

Enbridge Management also granted the underwriters a 30-day option to purchase up to an additional 1.35 million listed shares.

Net proceeds from the offering, including the proceeds from any exercise of the option to purchase additional listed shares, will be used to invest in an equal number of i-units of Enbridge Energy Partners L.P.

Enbridge Partners will utilize such proceeds to repay commercial paper, to finance a portion of its capital expansion program relating to its core liquids and natural gas systems and for general partnership purposes. Some or all of the net proceeds of the offering may be invested temporarily in short-term investment grade securities pending their use for such purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT