Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it 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 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.
The notes are being offered through a syndicate of dealers co-led by BMO Capital Markets, CIBC Capital Markets and TD Securities Inc. under Inter Pipeline's short form base shelf prospectus dated December 11, 2015, a related prospectus supplement dated September 8, 2016 and a pricing supplement to be dated April 12, 2017.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction, in which such an offer, solicitation or sale would be unlawful. The notes being offered have not been approved or disapproved by any regulatory authority. The notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons unless an exemption from the registration requirements of the U.S. Securities Act is available.
Inter Pipeline Ltd.
Inter Pipeline is a major petroleum transportation, natural gas liquids processing and bulk liquid storage business based in Calgary, Alberta, Canada. Inter Pipeline owns and operates energy infrastructure assets in western Canada and Europe. Inter Pipeline is a member of the S&P/TSX 60 Index and its common shares trade on the Toronto Stock Exchange under the symbol IPL. www.interpipeline.com
SOURCE: Inter Pipeline Ltd.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.