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Pembina announces closing of public note offering

Published by
World Pipelines,

Pembina Pipeline Corporation has closed its previously announced offering of CAN$600 million of senior unsecured medium-term notes. The offering was conducted in two tranches consisting of CAN$450 million in senior unsecured medium-term notes, series 5, having a fixed coupon of 3.54% per annum, paid semi-annually, and maturing on 3 February 2025, and CAN$150 million through the re-opening of its 4.75% medium-term notes, series 3, due 30 April 2043.

The offering was announced on 28 January 2015. The series 3 Notes and series 5 notes were offered through a syndicate of dealers under Pembina's short-form base shelf prospectus dated 22 February 2013, a related prospectus supplement dated 24 April 2013 and a related pricing supplement dated 28 January 2015.

The net proceeds will be used by the company to reduce short-term indebtedness under its credit facilities, as well as to fund Pembina's capital programme and for other general corporate purposes.

Adapted from press release by Rosalie Starling

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