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Inter Pipeline Ltd Announces $300 Million Offering Of Common Shares

Monday, 16 Sep 2013 04:39pm EDT 

Inter Pipeline Ltd announced that it has entered into an agreement to sell 11,930,000 common shares (Shares) at $25.15 per Share for gross proceeds of $300 million. Inter Pipeline has granted the underwriters an over-allotment option (Over-allotment Option), exercisable in whole or in part at any time up to 30 days after closing, to purchase up to an additional 1,789,500 Shares at the same offering price. Should the Over-allotment Option be exercised in full, the total gross proceeds of the offering would be $345 million. The offering is being made on a bought deal basis through a syndicate of underwriters led by TD Securities Inc., as sole bookrunner, and co-led by CIBC World Markets Inc. The offering will be made in all provinces of Canada and is expected to close on or about October 3, 2013, subject to customary regulatory approvals. The net proceeds of the offering will be used to repay a portion of Inter Pipeline's bank indebtedness. 

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28 Jul 2015