/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY, Oct. 3, 2013 /CNW/ - Inter Pipeline Ltd. (Inter Pipeline) (TSX: IPL) announced today that it
has closed its previously announced equity offering of 13,719,500
common shares (Shares) at $25.15 per Share for gross proceeds of
$345,045,425. The offering includes 1,789,500 Shares issued pursuant to
the full exercise of an over-allotment option granted to the
underwriters. The offering was made on a bought deal basis through a
syndicate of underwriters led by TD Securities Inc., as sole
bookrunner, and CIBC World Markets Inc., as co-lead underwriter, and
including BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC
Dominion Securities Inc., Scotia Capital Inc., FirstEnergy Capital
Corp., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd.
and Peters & Co. Limited.
The net proceeds of the offering will be used by Inter Pipeline to
reduce indebtedness under its revolving credit facility. Inter
Pipeline is currently advancing a multi-year $2.6 billion expansion
program on its Cold Lake and Polaris pipeline systems under
commercially secured contracts with major oil sands producers.
This news release is not an offer of securities for sale in the United
States. The Shares offered have not been and will not be registered
under the United States Securities Act of 1933 and accordingly are not
being offered for sale and may not be offered, sold or delivered,
directly or indirectly within the United States, its possessions and
other areas subject to its jurisdiction or to, or for the account or
for the benefit of a U.S. person, except pursuant to an exemption from
the registration requirements of that Act.
Inter Pipeline is a major petroleum transportation, natural gas liquids
extraction, and bulk liquid storage business based in Calgary, Alberta,
Canada. Inter Pipeline owns and operates energy infrastructure assets
in western Canada, the United Kingdom, Denmark, Germany and Ireland.
Additional information about Inter Pipeline can be found at www.interpipeline.com.
Certain information contained herein may constitute forward-looking
statements that involve risks and uncertainties. Readers are cautioned
not to place undue reliance on forward-looking statements. Such
information, although considered reasonable by Inter Pipeline at the
time of preparation, may later prove to be incorrect and actual results
may differ materially from those anticipated in the statements made.
For this purpose, any statements that are not statements of historical
fact may be deemed to be forward-looking statements. Forward-looking
statements often contain terms such as "may", "will", "should",
"anticipate", "expects" and similar expressions. Such risks and
uncertainties include, but are not limited to, risks associated with
operations, such as loss of markets, regulatory matters, environmental
risks, industry competition, potential delays and cost overruns of
construction projects, and the ability to access sufficient capital
from internal and external sources. You can find a discussion of those
risks and uncertainties in Inter Pipeline's securities filings at
www.sedar.com. The forward-looking statements contained in this news
release are made as of the date of this document, and, except to the
extent required by applicable securities laws and regulations, Inter
Pipeline assumes no obligation to update or revise forward-looking
statements made herein or otherwise, whether as a result of new
information, future events, or otherwise. The forward-looking
statements contained in this document are expressly qualified by this
SOURCE: Inter Pipeline Ltd.
For further information:
Vice President, Capital Markets
Tel: 403-290-6015 or 1-866-716-7473
Director, Corporate and Investor Communications