The offering is expected to close on or 16 December 2016, subject to customary closing conditions.
The company will use the proceeds of the offering to partially fund the acquisition of Canadian Natural Resources Limited's 15% interest in the Cold Lake pipeline system and to repay existing bank indebtedness. This acquisition is expected to close before the end of 2016.
Standard & Poor's Ratings Services and DBRS Limited have assigned preliminary credit ratings of BBB+ and BBB (high), respectively, to the notes. The notes are being offered through a syndicate of agents that is co-led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. under Inter Pipeline's short form base shelf prospectus.
