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DEBT | 12 Months Ended
--- | ---
Dec. 31, 2015
DEBT |
DEBT | 17.DEBT
|  | Weighted Average |  |  |  |  |  |
December 31, |  | Interest Rate |  | Maturity |  | 2015 |  | 2014
(millions of Canadian dollars) |  |  |  |  |  |  |  |
Enbridge Inc. |  |  |  |  |  |  |  |
United States dollar term notes 1 |  | 3.3% |  | 2016-2044 |  | 4,221 |  | 3,886
Medium-term notes |  | 4.3% |  | 2016-2064 |  | 5,698 |  | 6,048
Commercial paper and credit facility draws 2 |  |  |  |  |  | 5,667 |  | 4,525
Other 3 |  |  |  |  |  | 7 |  | -
Enbridge (U.S.) Inc. |  |  |  |  |  |  |  |
Commercial paper and credit facility draws 4 |  |  |  |  |  | 1,665 |  | 1,657
Medium-term notes 5 |  | 5.1% |  | 2020 |  | 14 |  | 12
Enbridge Energy Partners, L.P. |  |  |  |  |  |  |  |
Senior notes 6 |  | 6.2% |  | 2016-2045 |  | 7,404 |  | 4,350
Commercial paper and credit facility draws 7 |  |  |  |  |  | 1,988 |  | 2,056
Junior subordinated notes 8 |  | 8.1% |  | 2067 |  | 554 |  | 464
Enbridge Gas Distribution Inc. |  |  |  |  |  |  |  |
Medium-term notes |  | 4.6% |  | 2016-2050 |  | 3,603 |  | 3,033
Debentures |  | 9.9% |  | 2024 |  | 85 |  | 85
Commercial paper and credit facility draws |  |  |  |  |  | 599 |  | 939
Enbridge Income Fund |  |  |  |  |  |  |  |
Medium-term notes |  | 3.8% |  | 2016-2044 |  | 2,405 |  | 2,405
Commercial paper and credit facility draws |  |  |  |  |  | - |  | 140
Enbridge Pipelines (Southern Lights) L.L.C. |  |  |  |  |  |  |  |
Medium-term notes 9,10 |  | 4.0% |  | 2016-2040 |  | 1,425 |  | 1,223
Enbridge Pipelines Inc. |  |  |  |  |  |  |  |
Medium-term notes 11 |  | 4.7% |  | 2018-2045 |  | 3,725 |  | 2,974
Commercial paper and credit facility draws |  |  |  |  |  | 1,346 |  | 163
Debentures |  | 8.2% |  | 2024 |  | 200 |  | 200
Promissory note 12 |  |  |  |  |  | - |  | 103
Other 3 |  |  |  |  |  | 4 |  | 9
Enbridge Southern Lights LP |  |  |  |  |  |  |  |
Medium-term notes 10 |  | 4.0% |  | 2040 |  | 336 |  | 348
Midcoast Energy Partners, L.P. |  |  |  |  |  |  |  |
Senior notes 13 |  | 4.1% |  | 2019-2024 |  | 554 |  | 465
Commercial paper and credit facility draws 14 |  |  |  |  |  | 678 |  | 418
Other 15 |  |  |  |  |  | (198) |  | (151)
Total debt |  |  |  |  |  | 41,980 |  | 35,352
Current maturities |  |  |  |  |  | (1,990) |  | (1,004)
Short-term borrowings 16 |  |  |  |  |  | (599) |  | (1,041)
Long-term debt |  |  |  |  |  | 39,391 |  | 33,307
1 | 2015 - US$3,050 million (2014 - US$3,350 million).
2 | 2015 - $4,168 million and US$1,084 million (2014 - $3,217 million and US$1,127 million)
3 | Primarily capital lease obligations.
4 | 2015 - US$1,203 million (2014 - US$1,428 million).
5 | 2015 - US$10 million (2014 - US$10 million).
6 | 2015 - US$5,350 million (2014 - US$3,750 million).
7 | 2015 - US$1,436 million (2014 - US$1,772 million).
8 | 2015 - US$400 million (2014 - US$400 million).
9 | 2015 - US$1,030 million (2014 - US$1,054 million).
10 | On August 18, 2014, long-term private debt was issued for $352 million and US$1,601 million related to Southern Lights project financing. The proceeds were utilized to repay the construction credit facilities on a dollar-for-dollar basis.
11 | Included in medium-term notes is $100 million with a maturity date of 2112.
12 | A non-interest bearing demand promissory note that was paid on January 9, 2015.
13 | 2015 - US$400 million (2014 - US$400 million).
14 | 2015 - US$490 million (2014 - US$360 million).
15 | Primarily debt discount and debt issue costs.
16 | Weighted average interest rate - 0.8% (2014 - 1.4%).
For the years ending December 31, 2016 through 2020 debenture and term note maturities are $1,987 million, $2,639 million, $1,197 million, $1,883 million, $2,841 million, respectively, and $19,677 million thereafter. The Company’s debentures and term notes bear interest at fixed rates and interest obligations for the years ending December 31, 2016 through 2020 are $1,704 million, $1,599 million, $1,439 million, $1,246 million and $1,048 million, respectively. At December 31, 2015 and 2014, all debt was unsecured.
INTEREST EXPENSE |  |  |  |
Year ended December 31, |  | 2015 |  | 2014
(millions of Canadian dollars) |  |  |  |
Debentures and term notes |  | 1,805 |  | 1,425
Commercial paper and credit facility draws |  | 172 |  | 71
Southern Lights project financing |  | - |  | 49
Capitalized |  | (353) |  | (416)
|  | 1,624 |  | 1,129
INTEREST EXPENSE |  |  |  |
Year ended December 31, |  | 2015 |  | 2014
(millions of Canadian dollars) |  |  |  |
Enbridge Inc. |  | 970 |  | 598
Enbridge (U.S.) Inc. |  | 54 |  | 19
Enbridge Energy Partners, L.P. |  | 369 |  | 458
Enbridge Gas Distribution Inc. |  | 175 |  | 154
Enbridge Income Fund |  | 106 |  | 76
Enbridge Pipelines (Southern Lights) L.L.C. |  | 45 |  | 36
Enbridge Pipelines Inc. |  | 210 |  | 171
Enbridge Southern Lights LP |  | 14 |  | 14
Midcoast Energy Partners, L.P. |  | 34 |  | 19
Capitalized |  | (353) |  | (416)
|  | 1,624 |  | 1,129
CREDIT FACILITIES The following table provides details of the Company’s committed credit facilities at December 31, 2015 and December 31, 2014.
|  |  |  | 2015 |  | 2014
December 31, |  | Maturity |  | Total Facilities |  | Draws 1 |  | Available |  | Total Facilities
(millions of Canadian dollars) |  |  |  |  |  |  |  |  |  |
Enbridge Inc. |  | 2017-2020 |  | 6,988 |  | 5,692 |  | 1,296 |  | 9,025
Enbridge (U.S.) Inc. |  | 2017 |  | 4,470 |  | 1,665 |  | 2,805 |  | 3,747
Enbridge Energy Partners, L.P. |  | 2017-2020 |  | 3,598 |  | 2,054 |  | 1,544 |  | 3,045
Enbridge Gas Distribution Inc. |  | 2017-2019 |  | 1,010 |  | 603 |  | 407 |  | 1,008
Enbridge Income Fund |  | 2018 |  | 1,500 |  | 11 |  | 1,489 |  | 500
Enbridge Pipelines (Southern Lights) L.L.C. |  | 2017 |  | 28 |  | - |  | 28 |  | 23
Enbridge Pipelines Inc. |  | 2017 |  | 3,000 |  | 1,346 |  | 1,654 |  | 300
Enbridge Southern Lights LP |  | 2017 |  | 5 |  | - |  | 5 |  | 5
Midcoast Energy Partners, L.P. |  | 2018 |  | 1,121 |  | 678 |  | 443 |  | 986
Total committed credit facilities 2 |  |  |  | 21,720 |  | 12,049 |  | 9,671 |  | 18,639
| 1 |  | Includes facility draws, letters of credit and commercial paper issuances that are back-stopped by the credit facility.
| 2 |  | On August 18, 2014, long-term private debt was issued for $352 million and US$1,061 million related to Southern Lights project financing. The proceeds were utilized to repay the construction credit facilities on a dollar-for-dollar basis.
In addition to the committed credit facilities noted above, the Company also has $349 million (2014 - $361 million) of uncommitted demand credit facilities, of which $185 million (2014 - $80 million) was unutilized as at December 31, 2015. Credit facilities carry a weighted average standby fee of 0.2% per annum on the unused portion and draws bear interest at market rates. Certain credit facilities serve as a back-stop to the commercial paper programs and the Company has the option to extend the facilities, which are currently set to mature from 20 17 to 20 20. Commercial paper and credit facility draws, net of short-term borrowings, of $11,344 million (2014 - $8,960 million) are supported by the availability of long-term committed credit facilities and therefore have been classified as long-term debt. The Company’s credit facility agreements include standard events of default and covenant provisions whereby accelerated repayment may be required if the Company were to default on payment or violate certain covenants. As at December 31, 2015, the Company was in compliance with all debt covenants.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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