CALGARY, Aug. 8, 2016 /CNW/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL, NYSE: PBA) announced today that it has agreed to issue $500 million of senior unsecured medium-term notes (the “Offering”). The notes carry a fixed coupon of 3.71 percent per annum, paid semi-annually, and mature on August 11, 2026 (the “Series 7 Notes”).
Closing of the Offering is expected to occur on August 11, 2016 and the net proceeds will be used to repay short-term indebtedness of the Company under its credit facilities, as well as to fund Pembina’s capital program and for other general corporate purposes.
The Series 7 Notes are being offered through a syndicate of dealers under Pembina’s short-form base shelf prospectus dated March 18, 2015, as supplemented by a prospectus supplement dated June 11, 2015 and a related pricing supplement dated August 8, 2016.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction. The notes being offered have not been approved or disapproved by any regulatory authority. The notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act is available.