/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
CALGARY, Nov. 13, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter
Pipeline") (TSX: IPL) announced today that it has priced an
offering of $700 million of 6.625%
fixed-to-floating rate subordinated notes due November 19, 2079.
The offering is expected to close on November 19, 2019. Inter Pipeline will use the
net proceeds of the offering to fund capital projects, repay
indebtedness under its revolving credit facility and for other
general corporate purposes.
The issue was underwritten by a syndicate co-led by BMO Capital
Markets, National Bank Financial Markets and TD Securities Inc.
under Inter Pipeline's short form base shelf prospectus dated
January 18, 2018 and a related
prospectus supplement to be dated November
13, 2019.
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 United States or to, or for the account or
benefit of, U.S. persons.
About 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
Contact Information
Investor Relations:
Jeremy
Roberge
Vice President, Finance and Investor Relations
Email:
investorrelations@interpipeline.com
Tel: 403-290-6015 or
1-866-716-7473
Media Relations:
Breanne
Oliver
Manager Corporate Communications
Email: mediarelations@interpipeline.com
Tel: 587-475-1118
Disclaimer
Certain information contained herein may constitute
forward-looking statements that involve risks and
uncertainties. Readers are cautioned not to place undue
reliance on forward-looking statements, including, but not limited
to, statements regarding the anticipated closing date of the
offering and the use of proceeds of the offering. Such
information, although considered reasonable by Inter Pipeline at
the time of preparation, may later prove to be incorrect and actual
results may differ materially from those anticipated in the
statements made. For this purpose, any statements that are
not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements often
contain terms such as "may", "will", "should", "anticipate",
"expects" and similar expressions. Such risks and
uncertainties include, but are not limited to, risks associated
with operations, such as loss of markets, regulatory matters,
environmental risks, industry competition, potential delays and
cost overruns of construction projects, and the ability to access
sufficient debt or equity capital from internal and external
sources. You can find a discussion of those risks and uncertainties
in Inter Pipeline's securities filings at www.sedar.com. The
forward-looking statements contained in this news release are made
as of the date of this document, and, except to the extent required
by applicable securities laws and regulations, Inter Pipeline
assumes no obligation to update or revise forward-looking
statements made herein or otherwise, whether as a result of new
information, future events, or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary note. All dollar values are expressed
in Canadian dollars unless otherwise noted.
SOURCE Inter Pipeline Ltd.