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Inter Pipeline prices C$750M note offering


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Inter Pipeline prices C$750M note offering

Inter Pipeline Ltd. priced an offering of C$750 million of 6.875% fixed-to-floating rate subordinated notes due March 26, 2079, with net proceeds to be used to finance capital projects, pay off debt under its revolving credit facility and for other general corporate purposes.

The Calgary, Alberta-based Inter Pipeline, which is engaged in petroleum transportation, NGL processing and bulk liquid storage, expects to close the offering March 26, according to a March 21 news release.

BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. co-led a syndicate of underwriters for the offering.