Inter Pipeline to repay debt under revolving facility via new notes

By Marisa Wong

Morgantown, W.Va., March 21 – Inter Pipeline Ltd. said it plans to repay debt under its revolving credit facility using proceeds from an offering of new notes, according to a news release.

Inter Pipeline announced on Thursday that it priced C$750 million of 6.875% fixed-to-floating rate subordinated notes due March 2079. Proceeds will also be used to fund capital projects and for other general corporate purposes.

Inter Pipeline is a petroleum transportation, natural gas liquids processing and bulk liquid storage business based in Calgary, Alta.

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