Enbridge creates two new preference share series for C$1B subordinated notes conversion

ENBRIDGE INC

Created Series 2023-C and 2023-D preference shares linked to C$300M and C$700M notes.
Notes carry 8.495% and 8.747% fixed rates, due Jan 15, 2084.
Preference shares will pay cumulative dividends at same rate as notes interest.
Articles of amendment filed with Director under Canada Business Corporations Act.
Conversion shares are issuable upon automatic conversion of the notes.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ENBRIDGE INC: Created two new series of Preference Shares (Series 2023-C and Series 2023-D) via Articles of Amendment filed under the Canada Business Corporations Act (effective 2023-09-28).

Change: charter amendment
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Enbridge Inc. (the “Corporation”) filed Articles of Amendment with the Director under the Canada Business Corporations Act (the “CBCA”) amending its articles to create two new series of Preference Shares of the Corporation designated as Preference Shares, Series 2023-C (the “Series 2023-C Conversion Preference Shares”) and Preference Shares, Series 2023-D (the “Series 2023-D Conversion Preference Shares” and, together with the Series 2023-C Conversion Preference Shares, the “Conversion Preference Shares”), respectively.

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Source: SEC EDGAR

accession 0001104659-23-105610

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