logo
Share SHARE
FONT-SIZE Plus   Neg

Enbridge Energy Management Prices Offering Of 9 Mln Listed Shares

Enbridge Energy Management, L.L.C. (EEQ: Quote) 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

Editors Pick
Apple will unveil its Apple Watch with a battery that may last only 2.5 to 4 hours on very active use, according to a report in 9to5mac. "People with knowledge of the Apple Watch's development have provided us with the specific performance targets Apple wants to achieve for the Apple Watch battery,... HARMAN International Industries, Inc. (HAR) announced it has signed an agreement with Symphony Technology Group to acquire Symphony Teleca, a privately-held global software services company. Check out this story for a look at some of We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015.
comments powered by Disqus
Follow RTT