Enbridge Inc., (NASDAQ:ENB) one of the largest pipeline companies in the world, with revenue over $28 billon (U.S. Dollars) will be offering a new $25 Fixed-to-Floating rate subordinated note . Note that this in NOT Enbridge Energy Partners (NASDAQ:EEP), but is the parent company.
Maturity is way out in 2078 and likely the coupon will be way too meager for the interest rate risk inherent in a 60 year maturity for us to consider.
The issue will have 3 different spread reset rates. The 1st will be in 2023, the second in 2028 and lastly in 2043.