DEBT (Tables)

12 Months Ended

Dec. 31, 2014

DEBT

Schedule of debt

	Weighted Average
December 31,	Interest Rate	Maturity	2014		2013
(millions of Canadian dollars)
Liquids Pipelines
Debentures	8.2%	2024	200		200
Medium-term notes1	4.8%	2015-2043	2,986		2,985
Southern Lights project financing2,3	4.0%	2040	1,571		1,480
Commercial paper and credit facility draws			163		266
Other4			9		11
Gas Distribution
Debentures	9.9%	2024	85		85
Medium-term notes	4.7%	2016-2050	3,033		2,702
Commercial paper and credit facility draws			939		374
Sponsored Investments
Junior subordinated notes5	8.1%	2067	464		425
Medium-term notes	3.9%	2016-2044	2,405		1,615
Senior notes6	6.1%	2016-2040	4,815		4,201
Commercial paper and credit facility draws7			2,614		717
Corporate
United States dollar term notes8	3.5%	2015-2044	3,886		2,393
Medium-term notes	4.3%	2015-2064	6,048		4,518
Commercial paper and credit facility draws9			6,182		3,598
Gas Pipelines, Processing and Energy Services
Promissory Note10		2015	103		-
Other11			(35	)	(28	)
Total debt			35,468		25,542
Current maturities			(1,004	)	(2,811	)
Short-term borrowings12			(1,041	)	(374	)
Long-term debt			33,423		22,357

1. Included in medium-term notes is $100 million with a maturity date of 2112.

2. 2014 - $348 million and US$1,054 million (2013 - $352 million and US$1,061 million).

3. On August 18, 2014, long-term private debt was issued with the proceeds utilized to repay the construction credit facilities on a dollar-for-dollar basis.

4. Primarily capital lease obligations.

5. 2014 - US$400 million (2013 - US$400 million).

6. 2014 - US$4,150 million (2013 - US$3,950 million).

7. 2014 - $140 million and US$2,132 million (2013 - $41 million and US$635 million).

8. 2014 - US$3,350 million (2013 - US$2,250 million).

9. 2014 - $3,217 million and US$2,555 million (2013 - $2,476 million and US$1,055 million).

10. A non-interest bearing demand promissory note that was subsequently paid on January 9, 2015.

11. Primarily debt discount.

12. Weighted average interest rate - 1.4% (2013 - 1.1%).

Schedule of interest expense

Year ended December 31,	2014		2013		2012
(millions of Canadian dollars)
Debentures and term notes	1,425		1,123		986
Commercial paper and credit facility draws	71		34		33
Southern Lights project financing	49		40		38
Capitalized	(416	)	(250	)	(216	)
	1,129		947		841

Schedule of committed credit facilities

		December 31, 2014			December 31, 2013
	Maturity Dates	Total Facilities	Draws1	Available	Total Facilities
(millions of Canadian dollars)
Liquids Pipelines	2016	300	163	137	300
Gas Distribution	2016-2019	1,008	943	65	707
Sponsored Investments	2016-2019	4,531	2,745	1,786	4,781
Corporate	2016-2019	12,772	6,223	6,549	11,775
Total committed credit facilities2		18,611	10,074	8,537	17,563

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. Excluded from December 31, 2014 total facilities above was Southern Lights project financing facilities of $28 million (2013 - $1,570 million). Included in the 2013 facilities for Southern Lights were $63 million for debt service reserve letters of credit.