Enbridge raises $1.9B in bought-deal share sale to fund acquisitions
What's the deal? EnbridgeDealroom has a profile for this one. Try Dealroom → has agreed to sell 38,900,000 common shares at CDN$66.85 each for gross proceeds of CDN$2.6 billion (about $1.9 billion) in a bought-deal offering. A syndicate led by RBC Capital MarketsDealroom has a profile for this one. Try Dealroom → and CIBC Capital MarketsDealroom has a profile for this one. Try Dealroom → — with ScotiabankDealroom has a profile for this one. Try Dealroom →, BMO Capital MarketsDealroom has a profile for this one. Try Dealroom →, TD SecuritiesDealroom has a profile for this one. Try Dealroom →, and National Bank of Canada Capital Markets as joint bookrunners — has agreed to buy the shares.
What's the endgame? The Calgary-based pipeline and energy company will use net proceeds to partially fund announced acquisitions and build flexibility for potential future growth. A portion may be temporarily used to cut debt or held in short-term investments.
Why now? The offering is expected to close on or about September 14, 2026. Underwriters hold a 30-day option to buy up to 15% more shares to cover over-allotments; if exercised in full, gross proceeds would reach roughly CDN$3.0 billion.
The shares will be offered publicly across all Canadian provinces and in the US under a registration statement filed with the Securities and Exchange Commission, plus private placements in other jurisdictions.
The signal: The raise ranks among the largest post-IPO equity rounds in Canadian energy on record — in the top 0.1% of nearly 1,730 comparable deals. It underscores how large-cap operators are tapping public markets to bankroll consolidation rather than lean on debt alone.
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