Enbridge Energy amends credit agreement, eliminates Midcoast covenants

By Tali Rackner

Minneapolis, June 8 – Enbridge Energy Partners, LP entered into a seventh amendment to its credit agreement on Monday with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

This amendment, among other things, eliminates certain covenants related to Midcoast Energy Partners, LP and its subsidiaries, with the covenant removal to be effective upon the previously disclosed sale by the partnership of Midcoast Energy and subsidiaries to a subsidiary of Enbridge Inc., which is expected to close before the end of the second quarter.

Also on Monday, Enbridge Energy entered into a first amendment to its credit agreement with Enbridge (U.S.) Inc. This amendment also eliminates certain covenants related to Midcoast Energy and its subsidiaries, with the removal to be effective upon the sale.

The energy transport and storage company is based in Houston.

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