Enbridge Income Fund Holdings Inc.
TSX : ENF

Enbridge Income Fund Holdings Inc.

April 20, 2016 09:15 ET

Enbridge Income Fund Holdings Inc. Announces the Closing of Common Share Offering, Full Exercise of the Underwriters' Over-Allotment Option and Concurrent Private Placement for $718 Million

CALGARY, ALBERTA--(Marketwired - April 20, 2016) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES

Enbridge Income Fund Holdings Inc. (the "Company") (TSX:ENF) today announced the closing of its previously announced public offering (the "Offering") of common shares ("Common Shares") of the Company. The Company, through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, issued 20,353,850 Common Shares, inclusive of 2,654,850 Common Shares issued on full exercise of the underwriters' over-allotment option, at a price of $28.25 for gross proceeds of $574,996,263.

Concurrent with closing of the Offering, Enbridge Inc. (TSX:ENB)(NYSE:ENB) subscribed for 5,056,150 Common Shares on a private placement basis at a price of $28.25 for gross proceeds of $142,836,238 to maintain its 19.9 percent ownership interest in the Company.

Proceeds from the Offering and the concurrent private placement will be used to subscribe for 25,410,000 ordinary units of Enbridge Income Fund (the "Fund") at $28.25 per unit for gross proceeds to the Fund of $717,832,500 which will be used to fund the secured growth capital programs of Enbridge Pipelines Inc. and Enbridge Pipelines (Athabasca) Inc.

The Company now holds 56.6 percent of the issued and outstanding Fund Units, representing a 16.3 percent economic interest in the Fund and its investments (the "Fund Group"). Enbridge Inc. owns the remaining Fund Units and economic interest in the Fund Group.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the Common Shares in any jurisdiction. The Common Shares offered have not been registered under the United State Securities Act of 1933, as amended, and may not be offered or sold within the United States.

ABOUT ENBRIDGE INCOME FUND HOLDINGS INC.

Enbridge Income Fund Holdings Inc. is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund indirectly holds high quality, low risk energy infrastructure assets. The Fund's assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional Oil Sands System, the Canadian segment of the Southern Lights Pipeline, Class A units entitling the holder to receive defined cash flows from the US segment of the Southern Lights Pipeline, a 50 percent interest in the Alliance Pipeline, which transports natural gas from Canada to the U.S., and interests in more than 1,400 MW of renewable and alternative power generation assets. Information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com.

Contact Information