CALGARY, Feb. 19, 2019 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE:ENB) (Enbridge or the Company) announced today that Westcoast Energy Inc. ("Westcoast") intends to exercise its right to redeem all of its outstanding 5.50% Cumulative Redeemable First Preferred Shares, Series 7 ("Series 7 Shares") on March 20, 2019 at a price of $25.00 per Series 7 Share, together with all accrued and unpaid dividends.
Westcoast also intends to exercise its right to redeem all of its outstanding 5.60% Cumulative Redeemable First Preferred Shares, Series 8 ("Series 8 Shares") on March 20, 2019 at a price of $25.00 per Series 8 Share, together with all accrued and unpaid dividends.
Beneficial holders who are not directly the registered holders of the Series 7 Shares or Series 8 Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds. Inquiries from registered shareholders should be directed to Westcoast's Registrar and Transfer Agent, Computershare Investor Services Inc., at 1 800-564-6253 (Canada and United States) or 1-514-982-7555 (Outside North America).
Westcoast Energy Inc. is an indirect subsidiary of Enbridge Inc.
About Enbridge Inc.
Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers in excess of 3 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 62% of U.S.-bound Canadian crude oil exports; and moves approximately 18% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec, and New Brunswick. Enbridge also has interests in more than 1,700 MW of net renewable generating capacity in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com.
SOURCE Enbridge Inc.