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CALGARY, March 22, 2018 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA)
announced today that it has agreed to issue $700 million of senior unsecured medium-term
notes (the "Offering"). The Offering will be conducted in two
tranches consisting of $400 million
in senior unsecured medium-term notes, series 10 (the "Series 10
Notes") having a fixed coupon of 4.02% per annum, paid
semi-annually, and maturing on March 27,
2028, and $300 million in
senior unsecured medium-term notes, series 11 (the "Series 11
Notes") having a fixed coupon of 4.75% per annum, paid
semi-annually, and maturing on March
26, 2048.
Closing of the Offering is expected to occur on March 26, 2018 and the net proceeds will be used
to repay short-term indebtedness of the Company under its credit
facilities, as well as to fund Pembina's capital program and for
general corporate purposes.
The Series 10 Notes and Series 11 Notes are being offered
through a syndicate of dealers under Pembina's short-form base
shelf prospectus dated July 27, 2017
as supplemented by related pricing supplements dated March
22, 2018.
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 an
integrated system of pipelines that transport various hydrocarbon
liquids and natural gas products produced primarily in western
Canada. The Company also owns gas
gathering and processing facilities and an oil and natural gas
liquids infrastructure and logistics business. Pembina's integrated
assets and commercial operations along the majority of the
hydrocarbon value chain allow it to offer a full spectrum of
midstream and marketing services to the energy sector. Pembina is
committed to working with its community and aboriginal neighbours,
while providing value for investors in a safe, environmentally
responsible manner. This balanced approach to operating ensures the
trust Pembina builds among all of its stakeholders is sustainable
over the long term. Pembina's common shares trade on the
Toronto and New York stock exchanges under PPL and PBA,
respectively. Pembina's preferred shares also trade on the
Toronto stock exchange. For more
information, visit www.pembina.com.
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 statements can be identified by terminology such as
"expects", "will", and similar expressions.
In particular, this news release contains forward-looking
statements relating to the offering, including the anticipated
closing date and size of the offering and the 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 as at the date of this news release, including: that market
and industry conditions will be as predicted; that favourable
growth parameters continue to exist in respect of current and
future growth projects (including the ability to finance such
projects on favourable terms); that Pembina's businesses will
continue to achieve sustainable financial results; and that the
conditions to the closing of the offering can be met on the
anticipated timelines.
These 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: unforeseen and
significant changes in market and/or industry conditions; 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, 2017, 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. In addition, the closing of the offering may
not be completed, or may be delayed, if the conditions to the
closing of the offering are not satisfied on the anticipated
timeline or at all. Accordingly, there is a risk that the
offering will not be completed within the anticipated time, on the
terms currently proposed, or at all. 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
and there can be no guarantee as to how or when such proceeds may
be used.
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