Enbridge Income Fund Holdings has been permitted to acquire three renewable energy assets from Enbridge Inc. for nearly $1.23 billion. The board of directors of Enbridge Income Fund Holdings also permitted the offering of common equity to finance its related investment in the Enbridge Income Fund.
The company has implemented an agreement with a syndicate of investment dealers led by RBC Capital Markets, Scotia Capital and TD Securities for the sale on a bought-deal basis. The fund plans to finance the deal through a combination of debt and equity. Enbridge will provide $655 million unsecured, subordinated 10-year credit facility at a fixed interest rate of 6 percent per annum.
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