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DEBT | 12 Months Ended
--- | ---
Dec. 31, 2016
DEBT |
DEBT | 17. DEBT
|  | Weighted Average |  |  |  |  |  |  |
December 31, |  | Interest Rate |  | Maturity |  | 2016 |  | 2015 |
(millions of Canadian dollars) |  |  |  |  |  |  |  |  |
Enbridge Inc. |  |  |  |  |  |  |  |  |
United States dollar term notes 1 |  | 4.1% |  | 2017-2046 |  | 5,639 |  | 4,221 |
Medium-term notes |  | 4.2% |  | 2017-2064 |  | 4,998 |  | 5,698 |
Fixed-to-floating subordinated term notes 2 |  | 6.0% |  | 2077 |  | 1,007 |  | - |
Commercial paper and credit facility draws 3 |  |  |  |  |  | 4,672 |  | 5,667 |
Other 4 |  |  |  |  |  | 4 |  | 7 |
Enbridge (U.S.) Inc. |  |  |  |  |  |  |  |  |
Medium-term notes 5 |  | 5.1% |  | 2020 |  | 14 |  | 14 |
Commercial paper and credit facility draws 6 |  |  |  |  |  | 126 |  | 1,665 |
Enbridge Energy Partners, L.P. |  |  |  |  |  |  |  |  |
Senior notes 7 |  | 6.2% |  | 2018-2045 |  | 6,781 |  | 7,404 |
Junior subordinated notes 8 |  | 8.1% |  | 2067 |  | 537 |  | 554 |
Commercial paper and credit facility draws 9 |  |  |  |  |  | 2,226 |  | 1,988 |
Enbridge Gas Distribution Inc. |  |  |  |  |  |  |  |  |
Medium-term notes |  | 4.4% |  | 2017-2050 |  | 3,904 |  | 3,603 |
Debentures |  | 9.9% |  | 2024 |  | 85 |  | 85 |
Commercial paper and credit facility draws |  |  |  |  |  | 351 |  | 599 |
Enbridge Income Fund |  |  |  |  |  |  |  |  |
Medium-term notes |  | 4.2% |  | 2017-2044 |  | 2,075 |  | 2,405 |
Commercial paper and credit facility draws |  |  |  |  |  | 225 |  | - |
Enbridge Pipelines (Southern Lights) L.L.C. |  |  |  |  |  |  |  |  |
Medium-term notes 10 |  | 4.0% |  | 2040 |  | 1,342 |  | 1,425 |
Enbridge Pipelines Inc. |  |  |  |  |  |  |  |  |
Medium-term notes 11 |  | 4.5% |  | 2018-2046 |  | 4,525 |  | 3,725 |
Debentures |  | 8.2% |  | 2024 |  | 200 |  | 200 |
Commercial paper and credit facility draws |  |  |  |  |  | 1,032 |  | 1,346 |
Other |  |  |  |  |  | 4 |  | 4 |
Enbridge Southern Lights LP |  |  |  |  |  |  |  |  |
Medium-term notes |  | 4.0% |  | 2040 |  | 323 |  | 336 |
Midcoast Energy Partners, L.P. |  |  |  |  |  |  |  |  |
Senior notes 12 |  | 4.1% |  | 2019-2024 |  | 537 |  | 554 |
Commercial paper and credit facility draws 13 |  |  |  |  |  | 564 |  | 678 |
Other 14 |  |  |  |  |  | (226 | ) | (198 | )
Total debt |  |  |  |  |  | 40,945 |  | 41,980 |
Current maturities |  |  |  |  |  | (4,100 | ) | (1,990 | )
Short-term borrowings 15 |  |  |  |  |  | (351 | ) | (599 | )
Long-term debt |  |  |  |  |  | 36,494 |  | 39,391 |
| 1 |  | 2016 - US$4,200 million (2015 - US$3,050 million).
| 2 |  | 2016 - US$750 million (2015 - nil).
| 3 |  | 2016 - $3,600 million and US$799 million (2015 - $4,168 million and US$1,084 million).
| 4 |  | Primarily capital lease obligations.
| 5 |  | 2016 - US$10 million (2015 - US$10 million).
| 6 |  | 2016 - US$94 million (2015 - US$1,203 million).
| 7 |  | 2016 - US$5,050 million (2015 - US$5,350 million).
| 8 |  | 2016 - US$400 million (2015 - US$400 million).
| 9 |  | 2016 - US$1,658 million (2015 - US$1,436 million).
| 10 |  | 2016 - US$1,000 million (2015 - US$1,030 million).
| 11 |  | Included in medium-term notes is $100 million with a maturity date of 2112.
| 12 |  | 2016 - US$400 million (2015 - US$400 million).
| 13 |  | 2016 - US$420 million (2015 - US$490 million).
| 14 |  | Primarily debt discount and debt issue costs.
| 15 |  | Weighted average interest rate - 0.8% (2015 - 0.8%).
For the years ending December 31, 201 7 through 2021, debenture, term note and non-revolving credit facility maturities are $4,100 million, $1,172 million, $3,111 million, $2,797 million, $1,917 million respectively, and $21,618 million thereafter. The Company’s debentures and term notes bear interest at fixed rates and interest obligatio ns for the years ending December 31, 2017 through 2021 are $1,776 million, $1,645 million, $1,455 million, $1,259 million and $1,135 million, respectively. At December 31, 2016 and 2015, all debt was unsecured. INTEREST EXPENSE
Year ended December 31, |  | 2016 |  | 2015 |  | 2014 |
(millions of Canadian dollars) |  |  |  |  |  |  |
Debentures and term notes |  | 1,714 |  | 1,805 |  | 1,425 |
Commercial paper and credit facility draws |  | 197 |  | 172 |  | 71 |
Southern Lights project financing |  | - |  | - |  | 49 |
Capitalized |  | (321 | ) | (353 | ) | (416 | )
|  | 1,590 |  | 1,624 |  | 1,129 |
INTEREST EXPENSE
Year ended December 31, |  | 2016 |  | 2015 |  | 2014 |
(millions of Canadian dollars) |  |  |  |  |  |  |
Enbridge Inc. |  | 571 |  | 970 |  | 598 |
Enbridge (U.S.) Inc. |  | 43 |  | 54 |  | 19 |
Enbridge Energy Partners, L.P. |  | 609 |  | 369 |  | 458 |
Enbridge Gas Distribution Inc. |  | 193 |  | 175 |  | 154 |
Enbridge Income Fund |  | 119 |  | 106 |  | 76 |
Enbridge Pipelines (Southern Lights) L.L.C. |  | 56 |  | 45 |  | 36 |
Enbridge Pipelines Inc. |  | 262 |  | 210 |  | 171 |
Enbridge Southern Lights LP |  | 14 |  | 14 |  | 14 |
Midcoast Energy Partners, L.P. |  | 44 |  | 34 |  | 19 |
Capitalized |  | (321 | ) | (353 | ) | (416 | )
|  | 1,590 |  | 1,624 |  | 1,129 |
CREDIT FACILITIES The following table provides details of the Company’s committed credit facilities at December 31, 2016 and December 31, 2015.
|  |  |  | 2016 |  | 2015 |
|  |  |  | Total |  |  |  |  |  | Total |
December 31, |  | Maturity |  | Facilities |  | Draws 1 |  | Available |  | Facilities |
(millions of Canadian dollars) |  |  |  |  |  |  |  |  |  |  |
Enbridge Inc. |  | 2017-2020 |  | 8,183 |  | 4,700 |  | 3,483 |  | 6,988 |
Enbridge (U.S.) Inc. |  | 2018-2019 |  | 3,934 |  | 126 |  | 3,808 |  | 4,470 |
Enbridge Energy Partners, L.P. |  | 2018-2020 |  | 3,525 |  | 2,293 |  | 1,232 |  | 3,598 |
Enbridge Gas Distribution Inc. |  | 2018-2019 |  | 1,017 |  | 360 |  | 657 |  | 1,010 |
Enbridge Income Fund |  | 2019 |  | 1,500 |  | 236 |  | 1,264 |  | 1,500 |
Enbridge Pipelines (Southern Lights) L.L.C. |  | 2018 |  | 27 |  | - |  | 27 |  | 28 |
Enbridge Pipelines Inc. |  | 2018 |  | 3,000 |  | 1,032 |  | 1,968 |  | 3,000 |
Enbridge Southern Lights LP |  | 2018 |  | 5 |  | - |  | 5 |  | 5 |
Midcoast Energy Partners, L.P. |  | 2018 |  | 900 |  | 564 |  | 336 |  | 1,121 |
Total committed credit facilities |  |  |  | 22,091 |  | 9,311 |  | 12,780 |  | 21,720 |
| 1 |  | Includes facility draws, letters of credit and commercial paper issuances that are back-stopped by the credit facility.
In addition to the committed credit facilities noted above, the Company also has $335 million (2015 - $349 million) of uncommitted demand credit facilities, of which $177 million (2015 - $185 million) were 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. As at December 31, 2016, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $7,344 million (2015 - $11,344 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, 2016, 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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