Pembina Pipeline announces public note offering

The offering will be conducted in three tranches consisting of CAN$300 million principal amount of senior unsecured medium-term notes, series 19 having a fixed coupon of 5.72%/yr, paid semi-annually, and maturing on 22 June 2026; CAN$100 million principal amount to be issued through a re-opening of the company's senior unsecured medium-term notes, series 5 having a fixed coupon of 3.54%/yr, paid semi-annually, and maturing on 3 February 2025; and CAN$100 million principal amount to be issued through a re-opening of the company's senior unsecured medium-term notes, series 6 having a fixed coupon of 4.24/yr, paid semi-annually, and maturing on 15 June 2027.

Closing of the offering is expected to occur on 22 June 2023 and the net proceeds are intended to be used to repay indebtedness of the company under its unsecured CAN$1.5 billion revolving credit facility, as well as for general corporate purposes.

The series 19 notes and the re-opened series 5 notes and series 6 notes are being offered through a syndicate of dealers under Pembina's short-form base shelf prospectus dated 29 November 2021, as supplemented by related pricing supplements dated 20 June 2023.

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