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Pembina Pipeline Corporation Announces New Credit Facility, Declares Dividends, Announces First Quarter 2020 Results Conference Call and Webcast and Provides Update on Virtual Annual General Meeting
Pembina Pipeline Corporation Announces New Credit Facility, Declares Dividends, Announces ...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Announces New Credit Facility, Declares Dividends, Announces First Quarter 2020 Results Conference Call and Webcast and Provides Update on Virtual Annual General Meeting\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.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, April 6, 2020\n\n\n\nCALGARY, April 6, 2020 /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL; NYSE: PBA) announced today that it has entered into a new $800 million unsecured revolving credit facility. The Company further announced that its Board of Directors has declared a common share cash dividend for April 2020 of $0.21 per share and quarterly dividends for the Company's preferred shares.\nNew Unsecured Revolving Credit Facility\nPembina has entered into a new $800 million unsecured revolving credit facility (the \"Facility\") with certain existing key lenders. The Facility will be available to Pembina for general corporate purposes, thereby providing additional liquidity and flexibility should it be required. The Facility will have an initial term of two years. The other terms and conditions of the Facility, including financial covenants, are substantially similar to Pembina's existing $2.5 billion revolving credit facility.  \nWith the addition of the Facility, Pembina now has $3.3 billion in revolving credit facility capacity and approximately $2.3 billion in available cash and unutilized debt facilities. Further, over the next two years, Pembina's debt maturities are modest and include $73 million in 2020 and $800 million distributed across three instruments throughout 2021. \n\"In today's challeng...