Enbridge Initiates Bond Sale Following Moody’s Ratings Decline

Enbridge Inc. commenced marketing a dollar bond sale on Tuesday subsequent to a downgrade last week by Moody’s Ratings. The company issued debt in four parts on Tuesday amounting to $3.5 billion, according to a source familiar with the matter. The longest portion of the offering, a 30-year security, is anticipated to yield approximately 170 basis points over Treasuries, as conveyed by the source who opted for anonymity due to confidentiality. This move signifies the company's proactive approach in response to the ratings decline, highlighting its commitment to financial stability and growth.