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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt |
December 31, | Weighted Average Interest Rate 9 |  | Maturity |  | 2021 |  | 2020
(millions of Canadian dollars) |  |  |  |  |  |  |
Enbridge Inc. |  |  |  |  |  |  |
US dollar senior notes | 3.2 | % |  | 2022 - 2051 |  | 10,992 |  |  | 8,536 |
Medium-term notes | 3.9 | % |  | 2022 - 2064 |  | 8,123 |  |  | 8,323 |
Sustainability-linked bonds | 1.1 | % |  | 2033 |  | 2,363 |  |  | — |
Fixed-to-fixed subordinated term notes 1 | 5.8 | % |  | 2080 |  | 1,263 |  |  | 1,274 |
Fixed-to-floating rate subordinated term notes 2 | 5.8 | % |  | 2023 - 2028 |  | 6,442 |  |  | 6,477 |
Floating rate notes 3 |  |  | 2022 - 2023 |  | 1,579 |  |  | 956 |
Commercial paper and credit facility draws | 1.0 | % |  | 2022 - 2026 |  | 7,837 |  |  | 8,719 |
Other 4 |  |  |  |  | 5 |  |  | 5 |
Enbridge (U.S.) Inc. |  |  |  |  |  |  |
Commercial paper and credit facility draws | 0.4 | % |  | 2023 - 2026 |  | 4,845 |  |  | 492 |
Other 4 |  |  |  |  | 7 |  |  | 7 |
Enbridge Energy Partners, L.P. |  |  |  |  |  |  |
Senior notes | 6.5 | % |  | 2025 - 2045 |  | 3,095 |  |  | 3,886 |
Enbridge Gas Inc. |  |  |  |  |  |  |
Medium-term notes | 3.8 | % |  | 2022 - 2051 |  | 9,010 |  |  | 8,485 |
Debentures | 9.1 | % |  | 2024 - 2025 |  | 210 |  |  | 210 |
Commercial paper and credit facility draws | 0.5 | % |  | 2023 |  | 1,515 |  |  | 1,121 |
Enbridge Pipelines (Southern Lights) L.L.C. |  |  |  |  |  |  |
Senior notes | 4.0 | % |  | 2040 |  | 949 |  |  | 1,038 |
Enbridge Pipelines Inc. |  |  |  |  |  |  |
Medium-term notes 5 | 4.0 | % |  | 2022 - 2051 |  | 5,575 |  |  | 4,775 |
Debentures | 8.2 | % |  | 2024 |  | 200 |  |  | 200 |
Commercial paper and credit facility draws | 0.7 | % |  | 2023 |  | 667 |  |  | 1,278 |
Enbridge Southern Lights LP |  |  |  |  |  |  |
Senior notes | 4.0 | % |  | 2040 |  | 240 |  |  | 257 |
Spectra Energy Capital, LLC |  |  |  |  |  |  |
Senior notes | 7.0 | % |  | 2032 - 2038 |  | 218 |  |  | 220 |
Spectra Energy Partners, LP |  |  |  |  |  |  |
Senior notes | 3.9 | % |  | 2022 - 2048 |  | 8,451 |  |  | 8,332 |
Westcoast Energy Inc. |  |  |  |  |  |  |
Medium-term notes | 4.5 | % |  | 2022 - 2041 |  | 1,475 |  |  | 1,625 |
Debentures | 8.1 | % |  | 2025 - 2026 |  | 275 |  |  | 275 |
Fair value adjustment |  |  |  |  | 667 |  |  | 750 |
Other 6 |  |  |  |  | (363) |  |  | (344) |
Total debt 7 |  |  |  |  | 75,640 |  |  | 66,897 |
Current maturities |  |  |  |  | (6,164) |  |  | (2,957) |
Short-term borrowings 8 |  |  |  |  | (1,515) |  |  | (1,121) |
Long-term debt |  |  |  |  | 67,961 |  |  | 62,819 |
1 For the initial 10 years, the notes carry a fixed interest rate. Subsequently, the interest rate will be set to equal to the Five-Year US Treasury Rate plus a margin of 5.31% from years 10 to 30 and a margin of 6.06% from years 30 to 60. 2 For the initial 10 years, the notes carry a fixed interest rate. Subsequently, the interest rate will be floating and set to equal to the Canadian Dollar Offered Rate (CDOR) or the London Interbank Offered Rate (LIBOR) plus a margin. The notes would be converted automatically into Conversion Preference Shares in the event of bankruptcy and related events. 3 The notes carry an interest rate equal to the three-month LIBOR plus a margin of 50 basis points and Secured Overnight Financing Rate (SOFR) plus a margin of 40 basis points. 4 Primarily finance lease obligations. 5 Included in medium-term notes is $100 million with a maturity date of 2112. 6 Primarily unamortized discounts, premiums and debt issuance costs. 7 2021 - $36 billion and US$31 billion; 2020 - $35 billion and US$24 billion. Totals exclude capital lease obligations, unamortized discounts, premiums and debt issuance costs and fair value adjustment. 8 Weighted average interest rates on outstanding commercial paper were 0.5% as at December 31, 2021 (2020 - 0.3%). 9 Calculated based on term notes, debentures, commercial paper and credit facility draws outstanding as at December 31, 2021.
Schedule of Committed Credit Facilities | The following table provides details of our committed credit facilities as at December 31, 2021:
| Maturity 1 | Total Facilities | Draws 2 | Available
(millions of Canadian dollars) |  |  |  |
Enbridge Inc. | 2022-2026 | 9,137 |  | 7,837 |  | 1,300 |
Enbridge (U.S.) Inc. | 2023-2026 | 6,948 |  | 4,845 |  | 2,103 |
Enbridge Pipelines Inc. | 2023 | 3,000 |  | 667 |  | 2,333 |
Enbridge Gas Inc. | 2023 | 2,000 |  | 1,515 |  | 485 |
Total committed credit facilities |  | 21,085 |  | 14,864 |  | 6,221 |
1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities.
Schedule of Long-term Debt Issuances | LONG-TERM DEBT ISSUANCES During the year ended December 31, 2021, we completed the following long-term debt issuances totaling US$3.9 billion and $3.2 billion:
Company | Issue Date |  | Principal Amount
(millions of Canadian dollars unless otherwise stated) |
Enbridge Inc. |  |
| February 2021 | Floating rate senior-notes due February 2023 1 | US$500
| June 2021 | 2.50% Sustainability-linked senior notes due August 2033 | US$1,000
| June 2021 | 3.40% senior notes due August 2051 | US$500
| September 2021 | 3.10% Sustainability-linked medium-term notes due September 2033 | $1,100
| September 2021 | 4.10% medium-term notes due September 2051 | $400
| October 2021 | 0.55% senior notes due October 2023 | US$500
| October 2021 | 1.60% senior notes due October 2026 | US$500
| October 2021 | 3.40% senior notes due August 2051 | US$500
Enbridge Gas Inc. |  |
| September 2021 | 2.35% medium-term notes due September 2031 | $475
| September 2021 | 3.20% medium-term notes due September 2051 | $425
Enbridge Pipelines Inc. |  |
| May 2021 | 2.82% medium-term notes due May 2031 | $400
| May 2021 | 4.20% medium-term notes due May 2051 | $400
Spectra Energy Partners, LP |  |
| September 2021 | 2.50% senior notes due September 2031 2 | US$400
1 Notes carry an interest rate equal to the SOFR plus a margin of 40 basis points. 2 Issued through Texas Eastern Transmission, LP, a wholly-owned operating subsidiary of SEP.
Schedule of Long-Term Debt Repayments | During the year ended December 31, 2021, we completed the following long-term debt repayments totaling $1.1 billion and US$914 million, respectively:
Company | Repayment Date |  | Principal Amount
(millions of Canadian dollars unless otherwise stated) |
Enbridge Inc. |  |
| February 2021 | 4.26% medium-term notes | $200
| March 2021 | 3.16% medium-term notes | $400
Enbridge Energy Partners, L.P. |  |
| June 2021 | 4.20% senior notes | US$600
Enbridge Gas Inc. |  |
| May 2021 | 2.76% medium-term notes | $200
| December 2021 | 4.77% medium-term notes | $175
Enbridge Pipelines (Southern Lights) L.L.C. |  |
| June and December 2021 | 3.98% senior notes | US$64
Enbridge Southern Lights LP |  |
| June and December 2021 | 4.01% senior notes | $16
Spectra Energy Partners, LP |  |
| March 2021 | 4.60% senior notes | US$250
Westcoast Energy Inc. |  |
| October 2021 | 3.88% medium-term notes | $150
Schedule of Interest Expense | INTEREST EXPENSE
Year ended December 31, | 2021 | 2020 | 2019
(millions of Canadian dollars) |  |  |
Debentures and term notes | 2,850 |  | 2,913 |  | 2,783 |
Commercial paper and credit facility draws | 70 |  | 123 |  | 273 |
Amortization of fair value adjustment | (50) |  | (54) |  | (67) |
Capitalized interest | (215) |  | (192) |  | (326) |
| 2,655 |  | 2,790 |  | 2,663 |

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