Moody’s saying it “expect[s]” that Kinder Morgan’s C$5.5 billion Trans Mountain loan package “will be cancelled”. This in the wake of the Canadian government’s decision to buy the pipeline for C$4.5 billion.
Second, on January 30, 2018, the B.C. government proposed a restriction on increases to the amount of diluted bitumen imported into the province from Alberta. Thirdly, this restriction is until completing those studies on whether potential spillage could be mitigated. Fourth, said province also announced an intent to consult with local communities and First Nations. That process definitely takes forever and a day.
Background Note and In concluding:
TD Securities is serving as financial adviser to Kinder Morgan Inc. Also, more important, Scotiabank and Greenhill & Co Inc. are serving as financial advisers to Canada. All these powerhouses are in regarding the Canada buying the Trans Mountain pipeline.
Finally and also, Kinder Morgan Trans Mountain Pipeline System is further aka Trans Mountain Pipeline. It is a pipeline carrying crude and refined oil from Alberta to the west coast of British Columbia, Canada. In addition, it’s a wholly owned by the Canadian division of Kinder Morgan Energy Partners (Kinder Morgan). It’s been in use since 1953. Concluding, It is the only pipeline to run between these two areas.
Source: Bloomberg Finance L.P.