How is the new rate calculated for Enbridge preferred shares?

Our Answer

Doug asked this question on April 25, 2017.

Hi Doug,

The new fixed rate on the ENB.PR.U Preferred Shares will be determined 30 days prior to the reset date.

The new fixed rate will be equal to the 5-year US Treasury rate as at 30 days prior to the reset date, plus 305 basis points.

The reset date for the ENB.PR.U Preferred Shares is June 1, 2017.