Inter Pipeline announces $700 million medium term note ffering

May 28, 2020 CNW

CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has agreed to issue $700 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 4.232% per annum, payable semi-annually, and will mature on June 1, 2027.

The offering is expected to close on June 1, 2020. Inter Pipeline will use the net proceeds of the offering to repay indebtedness under its $1.5 billion revolving credit facility, series 4 medium term notes due July 2020 and for 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 January 15, 2020, and a related prospectus and pricing supplement, each to be dated May 28, 2020.

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