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Page 14 - NEWS RELEASE

SPECTRA ENERGY PARTNERS, LP filed this Form SC 13D/A on 11/30/2017


 

 

Exhibit (f)

 

 

 

NEWS RELEASE

 

Enbridge Completes Strategic Plan and Financial Outlook; Announces Dividend Increase of 10% for 2018 and Confirms Growth Through 2020

 

CALGARY, ALBERTA – November 29, 2017 - Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) today announced the finalization of its strategic plan and outlook (the Plan) following the merger with Spectra Energy, which closed on February 27, 2017. The Plan includes a three-year financial outlook covering 2018 – 2020. The following summarizes the key elements of the Plan, which will be further discussed at the Company’s investor conferences on December 12th and 13th, in New York and Toronto, respectively.

 

Highlights

 

·Strong business outlook through the three-year planning horizon; resulting in a three-year compound annual ACFFO/share and dividend growth of 10% through 2020; dividend increase of 10% for 2018

 

·Plan based on a remaining capital program of $22 billion through 2020

 

·Rationalizing the asset mix to a pure regulated pipeline and utility business model emphasizing low risk and strong growth in three core businesses: Liquids Pipelines and Terminals, Gas Transmission and Storage and Gas Utilities

 

·Identified $10 billion of non-core assets and intend to sell or monetize a minimum of $3 billion in 2018

 

·Accelerating deleveraging to further strengthen the balance sheet; Debt to EBITDA of 5.0x expected by the end of 2018

 

·Enbridge today announced a $1.5 billion privately placed common equity issuance and intends to issue an additional $4 billion of hybrid securities through the end of 2018

 

·Enbridge Income Fund Holdings Inc. today announced a $0.5 billion public common equity issuance

 

·Enbridge’s target credit metrics through the Plan horizon can be satisfied with additional asset sales, sponsored vehicle equity and the dividend reinvestment program; no additional follow-on common equity required for the Plan

 

·Strong three-year outlooks provided for Enbridge Income Fund, Enbridge Energy Partners and Spectra Energy Partners (SEP)