Pembina Pipeline Corporation (Pembina) has recently announced that it has agreed to issue CAN$600 million of senior unsecured medium term notes.
This offering will be conducted in two tranches that consist of: CAN$300 million in senior unsecured medium term notes, series 8 and CAN$300 million in senior unsecured medium term notes, series 9.
The series 8 notes have a fixed coupon of 2.99% per annum, paid semi-annually and maturing on 22 January 2024 and the series 9 notes have a fixed coupon of 4.74% per annum, paid semi-annually and maturing on 21 January 2047.
Closing of the offering is expected to occur on 20 January 2017 and the net proceeds will be used to repay Pembina’s short term indebtedness under its credit facilities, as well as funding its capital programme and other general corporate purposes.
Read the article online at: https://www.worldpipelines.com/business-news/18012017/pembina-announces-public-note-offering/