Deal Description: Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) closed its public offering (the Offering) of common shares by a syndicate of underwriters led by RBC Capital Markets and Morgan Stanley, together with BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, Scotiabank, and TD Securities as joint bookrunners. Enbridge issued 102,913,500 common shares inclusive of 13,423,500 common shares issued pursuant to the full exercise of the underwriters' over-allotment option. Gross proceeds from the Offering are approximately CDN$4.6 billion.

Enbridge intends to use the net proceeds from the Offering to finance a portion of the aggregate cash consideration payable for the purchase of local distribution company gas utilities in the United States from Dominion Energy, Inc. (the Acquisitions), the details of which were announced in a news release issued by Enbridge on September 5, 2023.

Baker Botts represented the underwriters as U.S. counsel in this Offering.

Enbridge’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Joshua Davidson (Partner, Houston); Natasha Khan (Partner, Houston); Garrett Hughey (Senior Associate, Houston); Marshall B. Heins II (Associate, Houston); Chelsea Johnson (Associate, Houston)

Tax: Jon Lobb (Partner, Houston)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

Energy Regulatory: Emil Barth (Partner, Washington); Ryan Norfolk (Special Counsel, Washington, D.C.); Diane Evans (Associate, Washington)

Real Estate: Daniel Kruger (Partner, Washington, D.C.); Sarah Hendrix (Associate, Dallas)

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