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Pembina: closing the deal

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World Pipelines,

Pembina Pipeline Corporation (Pembina or the corporation) is pleased to announce that it has closed its previously announced bought deal offering of 15 335 250 common shares at a price of CAN$30.00 per share through a syndicate of underwriters (the offering), which includes 2 000 250 common shares issued at the same price on the exercise in full of the over-allotment option granted to the underwriters. The aggregate gross proceeds from the offering is approximately CAN$460 million.


Pembina intends to use the net proceeds from the offering to partially fund capital expenditures associated with its CAN$6.5 billion suite of secured growth projects (including those that have been placed in service during 2015), to reduce short-term indebtedness of the corporation incurred as a result of expenditures related to its capital programme, and for general corporate purposes.

Entitled to…

Purchasers under this offering who are shareholders of record on 25 November 2015 (the record date) will be entitled to receive the corporation's monthly cash dividend payable on 15 December 2015 in respect of any common shares held on the record date.

The common shares were offered pursuant to a prospectus supplement under the short form base shelf prospectus filed by the corporation on 18 March 2015 in each of the provinces of Canada and in the US pursuant to applicable registration exemptions.

Additional information

The common shares issued pursuant to the offering have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the US absent registration or an applicable exemption from the registration requirements thereunder.

Edited from source by Stephanie Roker

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