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Kinder Morgan Says Trans Mountain Project Depends On IPO

Law360, New York (May 26, 2017, 7:19 PM EDT) -- Energy infrastructure giant Kinder Morgan Inc. has announced that its Canadian subsidiary has priced a CA$1.75 billion ($1.3 billion) initial public offering, which the company said will fund its expansion of the Trans Mountain pipeline if successful.

Kinder Morgan Canada Ltd. plans to sell 102.9 million shares public at CA$17 apiece, its parent announced on Thursday. The offering, which the company expects to complete on May 31, will help finance construction of the Trans Mountain project, which would add 600 miles to an existing pipeline in western Canada.

“Upon the completion of the IPO, we will have secured satisfactory financing for...

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