August 3, 2017 / 2:00 PM / a year ago

Kinder Morgan Canada launches preferred share offering

FILE PHOTO -- Replacement pipe is stored near crude oil storage tanks at Kinder Morgan's Trans Mountain Pipeline terminal in Kamloops, British Columbia, Canada November 15, 2016. REUTERS/Chris Helgren/File Photo

(Reuters) - Pipeline operator Kinder Morgan Canada Ltd (KML.TO) on Thursday announced a C$200 million ($159 million) preferred share offering for the completion of certain projects and to reduce debt.

The company said it would offer 8 million preferred shares at C$25 per share.

(This story corrects to clarify the offering was for preferred shares, removes reference to premium)

Reporting by Ahmed Farhatha in Bengaluru; Editing by Martina D'Couto

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