Enbridge Inc. announced on September 9, 2026, that it has entered into an agreement with a syndicate of underwriters to sell 38,900,000 common shares for aggregate gross proceeds of CDN$2.6 billion. The offering, structured as a bought-deal transaction, is priced at CDN$66.85 per common share.
The underwriting syndicate is led by RBC Capital Markets and CIBC Capital Markets, with Scotiabank, BMO Capital Markets, TD Securities Inc., and National Bank of Canada Capital Markets serving as joint bookrunners. The common shares will be offered to the public in Canada through a prospectus supplement and in the United States pursuant to a registration statement filed with the SEC.
Enbridge intends to use the net proceeds to partially fund announced acquisitions and to create financial flexibility for potential future growth opportunities. A portion of the net proceeds may be temporarily used to reduce indebtedness or invested in short-term liquid investments. The offering is expected to close on or about September 14, 2026.
Underwriters have been granted an option to purchase up to an additional 15% of the common shares, or 5,835,000 shares, to cover over-allotments. If this option is exercised in full, the aggregate gross proceeds from the Offering will increase to approximately CDN$3.0 billion.
