Canadian Pipeline Operator Wolf Midstream Plans C$600 Million Debut Bond Sale
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Canadian pipeline operator Wolf Midstream Canada LP is preparing a C$600 million ($440 million) bond sale this week and plans to set up a revolving credit facility.
The debt will mature in five years, with options for Wolf to buy it back after two, according to documents seen by Bloomberg. The proposed offering received a provisional BB rating from DBRS Morningstar on Monday, as the ratings company cited price and volume risks in the company’s natural gas liquids segment.