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DEBT
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
DEBT DEBT
 Weighted Average   
December 31,
Interest Rate9
Maturity20202019
(millions of Canadian dollars)    
Enbridge Inc.    
US dollar senior notes3.8 %2022-20498,536 8,689 
Medium-term notes
3.8 %2021-20648,323 7,623 
Fixed-to-fixed subordinated term notes1
2.8 %20801,274 — 
Fixed-to-floating rate subordinated term notes2
5.9 %2077-20786,477 6,550 
Floating rate notes3
2022956 1,556 
Commercial paper and credit facility draws0.8 %2021-20248,719 5,210 
Other4
 
 5 5 
Enbridge (U.S.) Inc.  
Commercial paper and credit facility draws0.3 %2022-2024492 1,734 
Other4
7 — 
Enbridge Energy Partners, L.P. 
Senior notes6.0 %2021-20453,886 3,955 
Enbridge Gas Inc.
Medium-term notes
3.9 %2021-20508,485 7,685 
Debentures
9.1 %2024-2025210 210 
Commercial paper and credit facility draws
0.3 %20221,121 898 
Enbridge Pipelines (Southern Lights) L.L.C. 
Senior notes4.0 %20401,038 1,129 
Enbridge Pipelines Inc.  
Medium-term notes5
4.2 %2022-20494,775 5,125 
Debentures
8.2 %2024200 200 
Commercial paper and credit facility draws0.3 %20221,278 2,030 
Enbridge Southern Lights LP 
Senior notes
4.0 %2040257 272 
Spectra Energy Capital, LLC
Senior notes
7.1 %2032-2038220 224 
Spectra Energy Partners, LP
Senior secured notes— 143 
Senior notes4.0 %2021-20488,332 8,481 
Floating rate notes— 519 
Westcoast Energy Inc.
Medium-term notes
4.5 %2021-20411,625 1,875 
Debentures
8.1 %2025-2026275 375 
Fair value adjustment 750 844 
Other6
  (344)(369)
Total debt7
  66,897 64,963 
Current maturities  (2,957)(4,404)
Short-term borrowings8
  (1,121)(898)
Long-term debt  62,819 59,661 
1For 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.
2For 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.
3The notes carry an interest rate equal to the three-month LIBOR plus a margin of 50 basis points.
4Primarily capital lease obligations.
5Included in medium-term notes is $100 million with a maturity date of 2112.
6Primarily unamortized discounts, premiums and debt issuance costs.
72020 - $35.4 billion and US$24.4 billion; 2019 - $33.4 billion and US$23.9 billion. Totals exclude capital lease obligations, unamortized discounts, premiums and debt issuance costs and fair value adjustment.
8Weighted average interest rates on outstanding commercial paper were 0.3% as at December 31, 2020 (2019 - 2.0%).
9Calculated based on term notes, debentures, commercial paper and credit facility draws outstanding as at December 31, 2020.

As at December 31, 2020, all outstanding debt was unsecured.
CREDIT FACILITIES
The following table provides details of our committed credit facilities as at December 31, 2020:
 Total  
MaturityFacilities
Draws1
Available
(millions of Canadian dollars)    
Enbridge Inc.2021-202411,854 8,719 3,135 
Enbridge (U.S.) Inc.2022-20247,007 492 6,515 
Enbridge Pipelines Inc.
20222
3,000 1,278 1,722 
Enbridge Gas Inc.
20222
2,000 1,121 879 
Total committed credit facilities 23,861 11,610 12,251 
1Includes facility draws and commercial paper issuances that are back-stopped by the credit facility.
2Maturity date is inclusive of the one-year term out option.
 

On February 24, 2020, Enbridge Inc. entered into a two year, non-revolving credit facility for US$1.0 billion with a syndicate of lenders.

On February 25, 2020, Enbridge Inc. entered into two, one year, non-revolving, bilateral credit facilities for a total of US$500 million.

On March 31, 2020, Enbridge Inc. entered into a one year, revolving, syndicated credit facility for $1.7 billion. On April 9, 2020, Enbridge Inc. exercised an accordion provision and increased the facility to $3.0 billion.

On July 23 and 24, 2020, we extended approximately $10.0 billion of our 364 day extendible credit facilities to July 2022, inclusive of a one-year term out provision.

On February 10, 2021, we entered into a three year, sustainability linked credit facility for $1.0 billion with a syndicate of lenders. As a result of the sustainability linked credit facility and other financing activities completed in 2020, and our current liquidity position, we concurrently cancelled a one year, revolving, syndicated credit facility for $3.0 billion ahead of its scheduled March 2021 maturity.

In addition to the committed credit facilities noted above, we maintain $849 million of uncommitted demand letter of credit facilities, of which $533 million were unutilized as at December 31, 2020. As at December 31, 2019, we had $916 million of uncommitted demand letter of credit facilities, of which $476 million were unutilized.
 
Our credit facilities carry a weighted average standby fee of 0.3% 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 December 31, 2020 and 2019, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $9.9 billion and $9.0 billion, respectively, are 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 year ended December 31, 2020, we completed the following long-term debt issuances totaling $2.5 billion and US$2.1 billion:
CompanyIssue DatePrincipal Amount
(millions of Canadian dollars unless otherwise stated)
Enbridge Inc.
February 2020
Floating rate notes due February 20221
US$750
May 20203.20% medium-term notes due June 2027$750
May 20202.44% medium-term notes due June 2025$550
July 2020
Fixed-to-fixed subordinated term notes due July 20802
US$1,000
Enbridge Gas Inc.
April 20202.90% medium-term notes due April 2030$600
April 20203.65% medium-term notes due April 2050$600
Spectra Energy Partners, LP
October 2020
3.10% senior notes due October 20403
US$300 
1Notes mature in two years and carry an interest rate set to equal the three-month LIBOR plus a margin of 50 basis points.
2Notes mature in 60 years and are callable on or after year 10. For the initial 10 years, the notes carry a fixed interest rate of 5.75%. Subsequently, the interest rate will be set to equal 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.
3Issued through Texas Eastern Transmission, L.P., a wholly-owned operating subsidiary of SEP.

LONG-TERM DEBT REPAYMENTS
During the year ended December 31, 2020, we completed the following long-term debt repayments totaling $1.7 billion and US$2.1 billion, respectively:
CompanyRepayment DatePrincipal Amount
(millions of Canadian dollars unless otherwise stated)
Enbridge Inc.
January 2020Floating rate notesUS$700
March 20204.53% medium-term notes$500
June 2020Floating rate notesUS$500
November 20204.85% medium-term notes$100
Enbridge Gas Inc.
November 20204.04% medium-term notes $400
Enbridge Pipelines (Southern Lights) L.L.C.
June and December 20203.98% senior notesUS$56
Enbridge Pipelines Inc.
April 20204.45% medium-term notes$350
Enbridge Southern Lights LP
June and December 20204.01% senior notes$15
Spectra Energy Partners, LP
January 20206.09% senior secured notesUS$111
June 2020Floating rate notesUS$400
October 20204.13% senior notes due 2020US$300
Westcoast Energy Inc.
January 20209.90% debentures$100
July 20204.57% medium-term notes$250


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 December 31, 2020, we were in compliance with all debt covenants.
INTEREST EXPENSE
Year ended December 31,202020192018
(millions of Canadian dollars)   
Debentures and term notes2,913 2,783 3,011 
Commercial paper and credit facility draws123 273 171 
Amortization of fair value adjustment(54)(67)(131)
Capitalized interest(192)(326)(348)
 2,790 2,663 2,703