04:26 PM EDT, 05/17/2024 (MT Newswires) -- KKR-backed (KKR) Coastal GasLink, a pipeline endeavor in Western Canada, is in discussions with investors for a potential sale of "high-grade" bonds, Bloomberg reported Friday, citing sources familiar with the situation.

The bond sale could fetch the pipeline project firm, managed by TC Energy ( TRP ) , between CA$3 billion ($2.2 billion) and CA$4 billion, the sources told Bloomberg.

The sale, part of the firm's CA$9 billion fixed-income financing plan, may happen in early June, according to the report.

The pipeline, owned 65% by KKR and Alberta Investment Management and 35% by TC Energy ( TRP ), supplies natural gas to the LNG Canada export terminal in British Columbia.

TC Energy ( TRP ) declined Bloomberg's comment request.

KKR, Coastal GasLink, and TC Energy ( TRP ) didn't immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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