March 16, 2009 / 2:46 PM / in 9 years

Enbridge says pipeline sale cuts equity need

(In U.S. dollars unless noted.)

CALGARY, Alberta, March 16 (Reuters) - Enbridge Inc (ENB.TO) said on Monday that the $400 million sale of its stake in the OCENSA pipeline in Colombia means that it will not have to raise equity this year.

Richard Bird, the company’s chief financial officer, said on a conference call that the sale not only removed the need to raise equity this year but meant “almost no further equity requirements to fund the secured capital program through 2012.” (Reporting by Scott Haggett; Editing by Peter Galloway)

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