Inter Pipeline completes $200M bought deal financing

On November 7, 2018, Inter Pipeline Ltd. (“Inter Pipeline”) closed its previously announced equity offering of 9,620,000 common shares at $20.80 per share for gross proceeds of $200,096,000.

The offering was made on a bought-deal basis through a syndicate of underwriters co-led by TD Securities Inc. and BMO Capital Markets. The net proceeds will be used to partially fund the acquisition of NuStar Energy L.P.’s European bulk liquid storage business by Inter Terminals Ltd., and for general corporate purposes.

Burnet, Duckworth & Palmer LLP was counsel to Inter Pipeline with a team that included Bill Maslechko, James Kidd and Jessica Brown (Corporate) and Heather DiGregorio (Tax).

Norton Rose Fulbright Canada LLP acted as counsel to the underwriters with a team that included Marcus Archer, Peter Allegretto, Eric Malysa, Katherine MacPhail and Caitlin Jenkins (Corporate) and Dion Legge (Tax).

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