I bolstered my Inter Pipeline Fund position today by doubling my stake, and thus lowering my adjusted cost base. See my previous post regarding Inter for my reasoning here.
Since my last purchase of IPL.UN, they announced the closing of the acquisition of the Corridor Pipeline System for approximately C$760 million (includes debt associated with Corridor's existing assets). Additionally, Inter Pipeline Fund will assume all of the debt associated with the expansion currently taking place on Corridor. The pipeline transports diluted bitumen from the Athabasca Oil Sands Project (AOSP) near Fort McMurray, Alberta, to the Scotford Upgrader near Fort Saskatchewan, Alberta.
This acquisition makes IPL.UN the largest pipeline carrier of Alberta oil sands product (~50% carried by Inter).
IPL.UN is currently yielding 8.9% as of writing this.