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Jun 22, 2017

Four of the big five banks the main Trans Mountain lenders

CIBC

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CALGARY, ALBERTA -- Royal Bank of Canada (RY.TO), Canadian Imperial Bank of Commerce (CM.TO), Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) are the main lenders for Kinder Morgan Canada Ltd's (KML.TO) Trans Mountain pipeline expansion, the company said in fillings on Thursday.

Activists have said they would exert pressure on those banks to drop Trans Mountain once they are named. The four are among 24 banks that granted $5.5 billion in loans to an operating subsidiary of Kinder Morgan Canada Ltd, which is majority-owned by Kinder Morgan Inc.