Inter Pipeline obtains new C$500 million one-year term loan

By Wendy Van Sickle

Columbus, Ohio, Aug. 30 – Inter Pipeline Ltd. has a new fully drawn C$500 million one-year term loan, according to a news release.

Proceeds were used to partially repay amounts outstanding under the company’s C$1.5 billion revolving credit facility, bringing available revolving capacity to about C$1.2 billion.

The term loan is extendible and reduces the company’s borrowing costs, according to the release.

The term loan was provided by some of the company’s existing lenders and is prepayable at any time.

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

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