DBRS Rates Inter Pipeline Ltd.’s CAD 300 Million Note Issue at BBB (high), Stable Trend

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to the CAD 300 million 3.173% Series 7 maturing on March 24, 2025 (the Notes), issued by Inter Pipeline Ltd. (IPL). The settlement date for the Notes is March 23, 2015.

The Notes will be unsecured obligations of IPL and rank pari passu with all other unsecured and unsubordinated debt of IPL. The net proceeds to IPL from the sale of the Notes will be used to repay bank indebtedness incurred through funding its capital expenditure program and for other general corporate purposes.

Notes:
The applicable methodology is Rating Companies in the Pipeline and Diversified Energy Industry (January 2015), which can be found on our website under Methodologies.