Enbridge Inc. and its wholly owned subsidiary Enbridge Pipelines Inc. have announced a proposed exchange transaction involving all outstanding medium term note debentures issued by Enbridge Pipelines Inc. The companies are seeking approval from holders of these notes to swap them for an equal principal amount of newly issued Enbridge medium term notes.
Under the proposal, each outstanding EPI note would be exchanged for a corresponding Enbridge note with the same financial terms as the existing debentures. The transaction would effectively replace the debt securities issued by Enbridge Pipelines Inc. with equivalent obligations issued directly by Enbridge.
The new Enbridge notes would be issued under Enbridge’s existing medium term note trust indenture dated October 20, 1997, as amended and supplemented. That indenture also governs Enbridge’s other senior unsecured debt securities denominated in Canadian dollars.
The exchange is being presented to all holders of the outstanding series of EPI medium term note debentures. The company said it is seeking the approval of those noteholders for the transaction, but did not provide additional details in the excerpt about the timing of the vote, specific series involved, or any conditions that may apply.
Enbridge said the proposed note exchange is intended to apply to all outstanding EPI Notes listed in the announcement. If approved, the arrangement would consolidate the debt structure by moving the obligations from Enbridge Pipelines Inc. to Enbridge while keeping the financial terms unchanged.
Enbridge Inc. is a major North American energy infrastructure company with operations in pipelines, gas transmission, and related services. Enbridge Pipelines Inc. is a wholly owned subsidiary used to issue certain debt securities. The announcement reflects a routine financing and debt-management action rather than a change to the company’s core operations.
The companies made the announcement from Calgary, Alberta, on May 25, 2026. The notice was distributed through CNW and referenced Enbridge’s listing on both the Toronto Stock Exchange and the New York Stock Exchange under the symbol ENB.
