Inter Pipeline Ltd. (Inter Pipeline) has agreed to issue CAN$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 18 April 2024.
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"Inter Pipeline declares medium term note offering"
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With the offering expected to close today, 18 April 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 that is being co-led by BMO Capital Markets, CIBC Capital Markets and TD Securities Inc. under Inter Pipeline's short form base shelf prospectus dated 11 December 2015, a related prospectus supplement dated 8 September 2016 and a pricing supplement to be dated 12 April 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, or any state securities laws, and may not be offered, sold or delivered within the US or to, or for the account or benefit of, US persons unless an exemption from the registration requirements of the US Securities Act is available.
Read the article online at: https://www.worldpipelines.com/business-news/18042017/inter-pipeline-declares-medium-term-note-offering/