On November 17, 2022, Inter Pipeline Ltd. (TSX: IPL) closed private placement of $1.25 billion of Senior Unsecured Notes consisting of: 1) $750 million of Notes with a fixed interest rate of 5.76% per annum, payable semi-annually commencing on February 17, 2023, that mature on February 17, 2028; and 2) $500 million of Notes with a fixed interest rate of 6.38% per annum, payable semi-annually commencing on February 17, 2023, that mature on February 17, 2033.
Notables of the financing:
1. All Canadian investors from Alberta, British Columbia, Ontario, Manitoba, Quebec and New Brunswick.
2. Ontario investors invested the largest amount with $626.65 million from 48 investors.
3. BC investors invested the second largest with $400.75 million, but from 4 investors.
$4.626 million was paid to the underwriting syndicate, including TD Securities Inc., CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Barclays Capital Canada Inc., Mizuho Securities Canada Inc., ATB Capital Markets Inc., Desjardins Securities Inc.
Burnet, Duckworth & Palmer LLP acted as legal counsel to Inter Pipeline.
All the information can be found in Canadian Financings database. Information can not be found in any other databases, Canadian and foreign.
Inter Pipeline is a major petroleum transportation and natural gas liquids processing business based in Calgary, Alberta, Canada. Inter Pipeline owns and operates energy infrastructure assets in Western Canada including the Heartland Petrochemical Complex.
photo credit: Inter Pipeline
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