CALGARY, April 3, 2019 /PRNewswire/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is
pleased to announce that it has closed its previously announced
offering of $800 million of senior
unsecured medium-term notes (the "Offering"). The Offering was
conducted in two tranches consisting of $400
million in senior unsecured medium-term notes, series 12
(the "Series 12 Notes") having a fixed coupon of 3.62% per annum,
paid semi-annually, and maturing on April 3,
2029, and $400 million in
senior unsecured medium-term notes, series 13 (the "Series 13
Notes") having a fixed coupon of 4.54% per annum, paid
semi-annually, and maturing on April 3,
2049.
The Offering was announced on April 1,
2019. The Series 12 Notes and Series 13 Notes were 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 April 1, 2019.
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.
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, or any state securities laws, and may not be offered or
sold within the United States.
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 identifying
additional opportunities to connect hydrocarbon production to new
demand locations through the development of infrastructure that
would extend Pembina's service offering even further
along the hydrocarbon value chain. These new developments will
contribute to ensuring that hydrocarbons produced in the Western
Canadian Sedimentary Basin and the other basins
where Pembina operates can reach the highest value
markets throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets;
- Customers choose us first for reliable and value-added
services;
- Investors receive sustainable industry-leading total
returns;
- Employees say we are the 'employer of choice' and value
our safe, respectful, collaborative and fair work culture; and
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
Pembina's strategy is to:
- Preserve Value by providing safe, environmentally
conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which
enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are
expected to generate cash flow per share accretion and capture
long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world
needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines
Division, Facilities Division and Marketing & New Ventures
Division.
Pembina's common shares trade on
the Toronto and New York stock exchanges under
PPL and PBA, respectively. For more information,
visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking statements
and information (collectively, "forward-looking statements") within
the meaning of the "safe harbor" provisions of applicable
securities legislation that are based on Pembina's current
expectations, estimates, projections and assumptions in light of
its experience and its perception of historical trends. In some
cases, forward-looking statements can be identified by terminology
such as "intend", "will", "shall", and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
statements relating to the offering, including the expected 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:
prevailing commodity prices, margins and exchange rates, that
Pembina's businesses will continue to achieve sustainable financial
results and that future results of operations will be consistent
with past performance and management expectations in relation
thereto, the availability and sources of capital, operating costs,
ongoing utilization and future expansions, the ability to reach
required commercial agreements, and the ability to obtain required
regulatory approvals. 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: non-performance of agreements in accordance with their
terms; the impact of competitive entities and pricing; reliance on
key industry partners, alliances and agreements; the strength and
operations of the oil and natural gas production industry and
related commodity prices; the continuation or completion of
third-party projects; regulatory environment and inability to
obtain required regulatory approvals; tax laws and treatment;
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, 2018, which can be
found 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 and there can
be no guarantee as to how or when such proceeds may be
used.
Accordingly, 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 or information contained herein, except
as required by applicable laws.
View original
content:http://www.prnewswire.com/news-releases/pembina-pipeline-corporation-announces-closing-of-800-million-public-note-offering-300823949.html
SOURCE Pembina Pipeline Corporation