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Pembina Pipeline closes USD800m public offering of notes.

M2 EQUITYBITES-April 4, 2019-Pembina Pipeline closes USD800m public offering of notes

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Pembina Pipeline Corporation (TSX:PPL) (NYSE:PBA) has closed its offering of USD800m of senior unsecured medium-term notes, it disclosed on Wednesday.

The offering was conducted in two tranches consisting of USD400m in senior unsecured medium-term notes, series 12, with a fixed annual coupon of 3.62%, paid half yearly and maturing on 3 April 2029; and USD400m in senior unsecured medium-term notes, series 13, having a fixed annual coupon of 4.54%, paid semi-annually and maturing on 3 April 2049.

Both series 12 and series 13 notes were offered through a syndicate of dealers under the company's short-form base shelf prospectus dated 27 July 2017, as supplemented by related pricing supplements dated 1 April 2019.

Net proceeds will be used by the company to pay back short-term debt under its credit facilities, as well as to finance its capital programme and for general corporate purposes.

Pembina Pipeline provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities and Marketing & New Ventures.

The company was founded in 1997 and is headquartered in Calgary, Canada.

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Date:Apr 4, 2019
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