Enbridge Inc. and Enbridge Pipelines Inc. complete C$4.3B Note Exchange Transaction
On June 16, 2026, Enbridge Inc. ("Enbridge") and its wholly owned subsidiary, Enbridge Pipelines Inc. ("EPI"), completed a transaction to exchange all outstanding series of EPI’s medium term note debentures ("EPI Notes"), with an aggregate principal amount of approximately C$4.3 billion. The EPI Notes were exchanged for an equal principal amount of newly issued Enbridge medium term notes with the same financial terms as the EPI Notes ("the Note Exchange Transaction"). The Note Exchange Transaction was completed following EPI's successful consent solicitation, through which holders of the EPI Notes were asked to approve the transaction. BMO Nesbitt Burns Inc. acted as Solicitation Agent, Computershare Investor Services Inc. acted as Tabulation Agent, and Sodali & Co. acted as Information Agent in connection with the Note Exchange Transaction.
McCarthy Tétrault LLP advised Enbridge and EPI with a team led by Toby Allan that included Bryce Safton and Jonathan Brisebois (Business), Brett Anderson, Kim Brown, Colton Dennis, and Abbey Kind (Tax), and Peter Danner (Energy).
