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Pembina prices CAD800m dual tranche notes


Tuesday 2nd April 2019 11:49 

 

Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL;NYSE: PBA) announced today that it has agreed to issue $800 million of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in two tranches consisting of $400 million in senior unsecured medium-term notes, series 12 (the "Series 12 Notes") having a fixed coupon of 3.62% per annum, paid semi-annually, and maturing on April 3, 2029, and $400 million in senior unsecured medium-term notes, series 13 (the "Series 13 Notes") having a fixed coupon of 4.54% per annum, paid semi-annually, and maturing on April 3, 2049.

Closing of the Offering is expected to occur on April 3, 2019 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 general corporate purposes.

The Series 12 Notes and Series 13 Notes are being offered through a syndicate of dealers under Pembina's short-form base shelf prospectus dated July 27, 2017 as supplemented by related pricing supplements dated April 1, 2019.

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, or any state securities law, and may not be offered or sold within the United States.



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