CALGARY, Jan. 17, 2017 /CNW/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL, NYSE: PBA) announced today that it has agreed to issue $600 million of senior unsecured medium-term notes (the “Offering”). The Offering will be conducted in two tranches consisting of $300 million in senior unsecured medium-term notes, series 8 (the “Series 8 Notes”) having a fixed coupon of 2.99% per annum, paid semi-annually, and maturing on January 22, 2024, and $300 million in senior unsecured medium-term notes, series 9 (the “Series 9 Notes”) having a fixed coupon of 4.74% per annum, paid semi-annually, and maturing on January 21, 2047.
Closing of the Offering is expected to occur on January 20, 2017 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 8 Notes and Series 9 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 January 17, 2017.
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.
Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America’s energy industry for over 60 years. Pembina owns and operates an integrated system of pipelines that transport various products derived from natural gas and hydrocarbon liquids produced primarily in western Canada. The Company also owns and operates gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. Pembina’s integrated assets and commercial operations along the entire hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to working with its community and aboriginal neighbours, while providing value for investors in a safe, environmentally responsible manner. This balanced approach to operating ensures the trust Pembina builds among all of its stakeholders is sustainable over the long-term. For more information, visit www.pembina.com.