Inter Pipeline Announces Closing of $345 million Offering of Common Shares
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
CALGARY, Oct. 3, 2013 /CNW/ - Inter Pipeline Ltd. (Inter Pipeline) (TSX: IPL)
announced today that it has closed its previously announced equity offering of
13,719,500 common shares (Shares) at $25.15 per Share for gross proceeds of
$345,045,425. The offering includes 1,789,500 Shares issued pursuant to the
full exercise of an over-allotment option granted to the underwriters. The
offering was made on a bought deal basis through a syndicate of underwriters
led by TD Securities Inc., as sole bookrunner, and CIBC World Markets Inc., as
co-lead underwriter, and including BMO Nesbitt Burns Inc., National Bank
Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., FirstEnergy
Capital Corp., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd.
and Peters & Co. Limited.
The net proceeds of the offering will be used by Inter Pipeline to reduce
indebtedness under its revolving credit facility. Inter Pipeline is
currently advancing a multi-year $2.6 billion expansion program on its Cold
Lake and Polaris pipeline systems under commercially secured contracts with
major oil sands producers.
This news release is not an offer of securities for sale in the United States.
The Shares offered have not been and will not be registered under the United
States Securities Act of 1933 and accordingly are not being offered for sale
and may not be offered, sold or delivered, directly or indirectly within the
United States, its possessions and other areas subject to its jurisdiction or
to, or for the account or for the benefit of a U.S. person, except pursuant to
an exemption from the registration requirements of that Act.
Inter Inter Pipeline is a major petroleum transportation, natural gas liquids
Pipeline extraction, and bulk liquid storage business based in Calgary, Alberta, Canada.
Inter Pipeline owns and operates energy infrastructure assets in western Canada,
Ltd. the United Kingdom, Denmark, Germany and Ireland. Additional information about
Inter Pipeline can be found at
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. 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
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
SOURCE Inter Pipeline Ltd.
Investor Relations: Jeremy Roberge Vice President, Capital Markets
Email:email@example.com Tel: 403-290-6015 or 1-866-716-7473
Media Relations: Tony Mate Director, Corporate and Investor Communications
Email:firstname.lastname@example.org Tel: 403-290-6166
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CO: Inter Pipeline Ltd.
-0- Oct/03/2013 13:23 GMT
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