Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) has completed its previously announced offering of $600 million of senior unsecured medium-term notes, consisting of $300 million in senior unsecured medium-term notes, series 8 having a fixed coupon of 2.99% per annum, paid semi-annually, and maturing on January 22, 2024, and $300 million in senior unsecured medium-term notes, series 9 having a fixed coupon of 4.74% per annum, paid semi-annually, and maturing on January 21, 2047.
The Series 8 Notes and Series 9 Notes were offered through a syndicate of dealers including CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., and J.P. Morgan Securities Canada Inc.
Pembina Pipeline intends to use net proceeds to repay short-term indebtedness under its credit facilities, as well as to fund its capital program and for other general corporate purposes.
photo credit: Pembina Pipeline