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CALGARY, June 16, 2015 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) is
pleased to announce that it has closed its previously announced
offering of $600 million of senior
unsecured medium-term notes (the "Offering"). The Offering was
conducted in two tranches consisting of $500
million in senior unsecured medium-term notes, series 6 (the
"Series 6 Notes") having a fixed coupon of 4.24 percent per annum,
paid semi-annually, and maturing on June 15,
2027, and $100 million
principal amount through the re-opening of the Company's 4.75
percent medium-term notes, series 3, due April 30, 2043 (the "Series 3 Notes").
The Offering was announced on June 11,
2015. The Series 3 Notes and Series 6 Notes were offered
through a syndicate of dealers under Pembina's short-form base shelf prospectus
dated March 18, 2015 and related
prospectus and pricing supplements dated June 11, 2015.
The net proceeds will be used by the Company to repay its
short-term indebtedness under its credit facilities, as well as to
fund Pembina's capital program and
for other general corporate purposes.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the notes in any jurisdiction. The
notes being offered have not been approved or disapproved by any
regulatory authority. The notes have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws,
and may not be offered or sold within the
United States unless an exemption from the registration
requirements of the U.S. Securities Act is available.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for over 60 years. Pembina owns and operates an integrated system
of pipelines that transport various hydrocarbon liquids including
conventional and synthetic crude oil, heavy oil and oil sands
products, condensate (diluent) and NGL produced in western
Canada and ethane produced in
North Dakota. The Company also
owns and operates gas gathering and processing facilities and an
oil and NGL infrastructure and logistics business. With facilities
strategically located in western Canada and in NGL markets in eastern
Canada and the U.S., Pembina also offers a full spectrum of
midstream and marketing services that spans across its operations.
Pembina's integrated assets and
commercial operations enable it to offer services needed by the
energy sector along the hydrocarbon value chain.
Forward-Looking Information and Statements
This news release contains certain forward-looking
information and statements (collectively, "forward-looking
statements") that are based on Pembina's current expectations, estimates,
projections and assumptions in light of its experience and its
perception of historical trends. In this news release, such
forward-looking information and statements can be identified by
terminology such as "expects", "will", and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
information and statements relating to Pembina's anticipated use of the net proceeds
of the offering.
These forward-looking statements are based on certain
assumptions that Pembina has made
in respect thereof, including with respect to future industry and
economic conditions and that Pembina will carry on its business and
operations in accordance with its current strategic plan and
capital budget. Forward-looking statements are not guarantees of
future performance and are subject to a number of known and unknown
risks and uncertainties, including, but not limited to: the
strength and operations of the oil and natural gas production
industry and related commodity prices; non-performance of
agreements in accordance with their terms; fluctuations in
operating results; the ability of Pembina to raise sufficient capital to
complete future projects and satisfy future commitments;
construction delays; labour and material shortages; and certain
other risks detailed from time to time in Pembina's public disclosure documents
including, among other things, those detailed under the heading
"Risk Factors" in Pembina's
management's discussion and analysis and annual information form
for the year ended December 31, 2014,
which can be found under Pembina's
profile on SEDAR at www.sedar.com and with the U.S.
Securities and Exchange Commission at www.sec.gov and
available on Pembina's website at
www.pembina.com. The intended use of the net proceeds of the
offering by Pembina may change if
the board of directors of Pembina
determines that it would be in the best interests of Pembina to deploy the proceeds for some other
purpose.
Readers are cautioned that events or circumstances could
cause results to differ materially from those predicted, forecasted
or projected. Such forward-looking statements are expressly
qualified by the above statements. Pembina does not undertake any obligation to
publicly update or revise any forward-looking statements contained
herein, except as required by applicable laws.
All dollar values are in Canadian dollars.
SOURCE Pembina Pipeline Corporation