IFM (US) Colonial Pipeline 2 has raised $250 million in a sale of senior secured notes in the 144a private placement market, Reuters reports. The refined liquid petroleum products pipeline company appointed RBS and Credit Suisse as the joint bookrunning managers for the deal. The company intends to use the proceeds to repay existing $216 million term loan, pay about $10 million in hedge break costs, establish a debt service reserve account, and for general corporate purposes. The notes carry a coupon rate of 6.45%, and are scheduled to mature in May 1, 2021.
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