Pembina Pipeline Corporation has agreed to offer CAN$600 million of senior unsecured medium-term notes. The offering will be 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.
Closing of the offering is expected to occur on 2 February 2015 and net proceeds will be used to reduce short-term indebtedness of the company under its credit facilities, as well as to fund Pembina's capital programme and for other general corporate purposes.
The series 3 Notes and series 5 Notes are being 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.
Adapted from press release by Rosalie Starling