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Pembina Pipeline Corporation Announces $600 Million Hybrid Note Offering
Pembina Pipeline Corporation Announces $600 Million Hybrid Note Offering Canada...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n \n \n \n Pembina Pipeline Corporation Announces $600 Million Hybrid Note Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Jan. 12, 2021\n \n /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL) (NYSE: PBA) announced today that it has priced an offering of\n \n $600 million\n \n of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due\n \n January 25, 2081\n \n (the \"Offering\").\n \n \n The Offering is expected to close on or about\n \n January 25, 2021\n \n , subject to customary closing conditions. Pembina expects to use the net proceeds of the Offering to redeem or repurchase its outstanding cumulative redeemable minimum rate reset Class A Preferred Shares, Series 11 (TSX: PPL.PR.K) and its cumulative redeemable minimum rate reset Class A Preferred Shares, Series 13 (TSX: PPL.PR.M), to repay other outstanding indebtedness, as well as for general corporate purposes.\n \n \n The subordinated notes are being offered through a syndicate of underwriters, co-led by RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities, under Pembina's short form base shelf prospectus dated\n \n December 30, 2020\n \n , as supplemented by a prospectus supplement dated\n \n January 12, 2021\n \n .\n \n \n This news release does not constitute an offer to sell or the solicitation of an offer to buy the subordinated notes. The subordinated notes have not been approved or disapproved by any regulatory authority. The subordinated notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within\n \n the United States\n \n or to, or for the account or benefit of,\n \n United States\n \n persons.\n \n \n \n About Pembina\n \n \n \n \n Calgary\n \n -based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving\n \n North America's\n \n energy industry for more than 65 years. Pembina owns an integrated system of...