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Pembina Pipeline Corporation Announces Closing of $225 Million Subordinated Note Offering and Redemption of Series 9 Preferred Shares
Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to ann...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"Pembina Pipeline Corporation Announces Closing of $225 Million Subordinated Note Offering and Redemption of Series 9 Preferred Shares\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL; NYSE: PBA) is pleased to announce that it has closed its previously announced offering of $225 million aggregate principal amount of 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2 (the \"Series 2 Notes\") due June 6, 2055 (the \"Offering\"). The Series 2 Notes were offered through a syndicate of underwriters, co-led by CIBC Capital Markets, BMO Capital Markets and Scotiabank, under Pembina's short form base shelf prospectus dated December 13, 2023, as supplemented by a prospectus supplement dated October 8, 2025.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20251010603011/en/\n \n\n\n As previously announced, Pembina intends to use the net proceeds of the Offering to fund the redemption of all of its outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 (TSX: PPL.PR.I) (the \"Series 9 Class A Preferred Shares\") on December 1, 2025 (the \"Redemption Date\") at a price equal to $25.00 per Series 9 Class A Preferred Share (the \"Redemption Price\"), less any tax required to be deducted or withheld by the Company and for general corporate purposes. The aggregate Redemption Price to Pembina will be $225 million.\n \n\n Pembina previously announced that the dividend payable on December 1, 2025, to the holders of the Series 9 Class A Preferred Shares of record on November 3, 2025, will be $0.268875 per Series 9 Class A Preferred Share. This will be the final quarterly dividend on the Series 9 Class A Preferred Shares. Upon payment of the December 1, 2025 dividend, there will be no accrued and unpaid dividends on the Series 9 Class A Preferred Shares as at the Redemption Date.\n \n\n The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series 9 Class A Preferred Shares in accordance with the terms of the Series 9 Class A Preferred Shares, as set out in the Company's articles of amalgamation dated October 2, 2017. For non-registered holders of Series 9 Class A Preferred Shares, no ...