Calgary (pcJ News Briefs) – Inter Pipeline Ltd. (TSX: IPL) has agreed to issue $500 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 2.734% per annum, payable semi-annually, and will mature on April 18, 2024.
The notes are being offered through a syndicate of dealers co-led by BMO Capital Markets, CIBC Capital Markets and TD Securities Inc.
The offering is expected to close on April 18, 2017.
Inter Pipeline will use the net proceeds of the offering to repay indebtedness under its revolving credit facility and for other general corporate purposes.
Inter Pipeline is a major petroleum transportation, natural gas liquids processing and bulk liquid storage business based in Calgary. Inter Pipeline owns and operates energy infrastructure assets in western Canada and Europe.
photo credit: Inter Pipeline