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DEBT | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
DEBT | DEBT On January 22, 2019, Enbridge entered into supplemental indentures with its wholly-owned subsidiaries, Spectra Energy Partners, LP (SEP) and EEP (together, the Partnerships), pursuant to which Enbridge fully and unconditionally guaranteed, on a senior unsecured basis, the payment obligations of the Partnerships with respect to the outstanding series of notes issued under the respective indentures of the Partnerships. Concurrently, the Partnerships entered into a subsidiary guarantee agreement pursuant to which they guaranteed, on a senior unsecured basis, the outstanding series of senior notes of Enbridge. See Note 16 - Condensed Consolidating Financial Information for further discussion. CREDIT FACILITIES The following table provides details of our committed credit facilities as at September 30, 2019:
| Maturity | Total Facilities |  | Draws 1 |  | Available |
(millions of Canadian dollars) |  |  |  |
Enbridge Inc. | 2021-2024 | 7,024 |  | 6,400 |  | 624 |
Enbridge (U.S.) Inc. | 2021-2024 | 7,282 |  | 2,680 |  | 4,602 |
Enbridge Pipelines Inc. | 2021 | 3,000 |  | 2,555 |  | 445 |
Enbridge Gas Inc. | 2019-2021 | 2,017 |  | 1,280 |  | 737 |
Total committed credit facilities |  | 19,323 |  | 12,915 |  | 6,408 |
1 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities. On February 7, 2019 and February 8, 2019, we terminated certain Canadian and United States dollar credit facilities, including facilities held by Enbridge, Enbridge Gas Inc. (EGI), EEP and SEP. We also increased existing facilities or obtained new facilities to replace the terminated ones under Enbridge, Enbridge (U.S.) Inc. and EGI. As a result, our total credit facility availability increased by approximately $444 million. On May 16, 2019, Enbridge Inc. entered into a three year, non-revolving, extendible credit facility for $641 million (¥52.5 billion) with a syndicate of Japanese banks. On July 18, 2019, Enbridge Inc. entered into a five year, non-revolving, bilateral credit facility for $500 million with an Asian bank. In addition to the committed credit facilities noted above, we maintain $928 million of uncommitted demand credit facilities, of which $588 million were unutilized as at September 30, 2019. As at December 31, 2018, we had $807 million of uncommitted credit facilities, of which $548 million were unutilized. Our credit facilities carry a weighted average standby fee of 0.1% 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 we have the option to extend such facilities, which are currently scheduled to mature from 2021 to 2024. As at September 30, 2019 and December 31, 2018, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $11,634 million and $7,967 million, respectively, were supported by the availability of long-term committed credit facilities and therefore have been classified as long-term debt. LONG-TERM DEBT ISSUANCES During the nine months ended September 30, 2019, we completed the following long-term debt issuances:
Company | Issue Date |  |  | Principal Amount
(millions of Canadian dollars, unless otherwise stated) |  |
Algonquin Gas Transmission, LLC |  |
| August 2019 | 3.24% senior notes due August 2029 |  | US$500
Enbridge Gas Inc. |  |  |
| August 2019 | 2.37% medium-term notes due August 2029 |  | $400
| August 2019 | 3.01% medium-term notes due August 2049 |  | $300
Enbridge Pipelines Inc. |  |  |
| February 2019 | 3.52% medium-term notes due February 2029 | $600
| February 2019 | 4.33% medium-term notes due February 2049 | $600
LONG-TERM DEBT REPAYMENTS During the nine months ended September 30, 2019, we completed the following long-term debt repayments:
Company | Retirement/ Repayment Date |  |  | Principal Amount
(millions of Canadian dollars, unless otherwise stated) |  |
Enbridge Inc. |  |
Repayment |  |
| February 2019 | 4.10% medium-term notes | $300
| May 2019 | Floating rate notes | $750
| September 2019 | 4.77% medium-term notes | $400
Enbridge Energy Partners, L.P. |  |
Redemption |  |  |
| February 2019 | 8.05% fixed/floating rate junior subordinated notes due 2067 | US$400
Repayment |  |  |
| March 2019 | 9.88% senior notes |  | US$500
Enbridge Pipelines (Southern Lights) L.L.C. |  |
Repayment |  |  |
| June 2019 | 3.98% medium-term notes due 2040 |  | US$23
Enbridge Southern Lights LP |  |  |
Repayment |  |  |
| July 2019 | 4.01% senior notes due 2040 |  | $10
Westcoast Energy Inc. |  |  |
Repayment |  |  |
| January 2019 | 5.60% medium-term notes | $250
| January 2019 | 5.60% medium-term notes |  | $50
| May 2019 | 6.90% senior secured notes due 2019 |  | $13
| May 2019 | 4.34% senior secured notes due 2019 |  | $2
SUBORDINATED TERM NOTES As at September 30, 2019 and December 31, 2018, our fixed-to-floating subordinated term notes had a principal value of $6,637 million and $7,317 million, respectively. FAIR VALUE ADJUSTMENT As at September 30, 2019, the net fair value adjustment for total debt assumed in the Merger Transaction was $876 million. During the three and nine months ended September 30, 2019, the amortization of the fair value adjustment, recorded as a reduction to Interest expense in the Consolidated Statements of Earnings, was $17 million and $50 million, respectively. DEBT COVENANTS Our credit facility agreements and term debt indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we were to default on payment or violate certain covenants. As at September 30, 2019, we were 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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