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Enbridge announces offering of CDN$1.5 billion of common shares by private placement

CALGARY, ALBERTA -- (Marketwired) -- 11/29/17 -- Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it has entered into subscription agreements with three large institutional investors to issue 33,456,003 common shares from treasury, on a private placement basis, at a price of CDN$44.84 per common share, for gross proceeds of approximately CDN$1.5 billion (the Offering). The proceeds from the Offering will be used to pay down short term indebtedness pending investment in capital projects.

Closing of the Offering is expected to occur on or about December 6, 2017 and is subject to the review and approval of the Toronto Stock Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Enbridge Inc.

Enbridge Inc. is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline; accounts for approximately 65% of U.S.-bound Canadian crude oil exports; and moves approximately 20% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.6 million retail customers in Ontario, Quebec, New Brunswick and New York State. Enbridge also has a growing involvement in electricity infrastructure with interests in more than 2,500 MW of net renewable generating capacity in North America and Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past eight years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB.

Forward Looking Statements

Forward-looking information, or forward-looking statements, have been included in this news release to provide information about the Offering, the number of securities to be issued, the investors participating in the Offering and the expected closing date of the Offering. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe", "likely" and similar words suggesting future outcomes or statements regarding an outlook.

Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Material assumptions include assumptions about the following: regulatory and third party approvals not being obtained in the manner or timing anticipated, the state of domestic capital markets, changes in general market conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.

Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.

Contacts:
Media
Suzanne Wilton
(403) 231-7385 or Toll Free: 1-888-992-0997
suzanne.wilton@enbridge.com

Investment Community
Jonathan Gould
(403) 231-3916 or Toll Free: 1-800-481-2804
jonathan.gould@enbridge.com

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