CALGARY, AB – Pembina Pipeline Corporation (“Pembina”) (TSX: PPL) (NYSE: PBA) announced today that it has agreed to issue $1.0 billion of senior unsecured medium-term notes (the “Offering”). The Offering will be conducted in two tranches consisting of $500 million in senior unsecured medium-term notes, series 17 (the “Series 17 Notes”) having a fixed coupon of 3.53% per annum, paid semi-annually, and maturing on December 10, 2031; and $500 million in senior unsecured medium-term notes, series 18 (the “Series 18 Notes”) having a fixed coupon of 4.49% per annum, paid semi-annually, and maturing on December 10, 2051.
Closing of the Offering is expected to occur on December 10, 2021 and the net proceeds are intended to be used to repay indebtedness of the Company under its unsecured $2.5 billion revolving credit facility, as well as for general corporate purposes.
The Series 17 Notes and the Series 18 Notes are being offered through a syndicate of dealers under Pembina’s short-form base shelf prospectus dated November 29, 2021, as supplemented by related pricing supplements dated December 8, 2021.
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 law, and may not be offered or sold within the United States.