CALGARY, Nov. 7, 2018 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has 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 led by TD Securities Inc., as sole bookrunner, and co-led by BMO Capital Markets.
Inter Pipeline will use the net proceeds of the offering to partially fund the previously announced acquisition of NuStar Energy, L.P.’s European bulk liquid storage business by Inter Pipeline’s European storage subsidiary, Inter Terminals Ltd., and for general corporate purposes.