CALGARY, April 25, 2013 /PRNewswire/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA)
announced today that it has agreed to offer $200 million of senior unsecured medium-term
notes. The notes have a fixed interest rate of 4.75% per annum,
paid semi-annually, and will mature on April
30, 2043.
Closing of the offering is anticipated to occur on April 30 and the net proceeds will be used to
reduce short term indebtedness of the Company under its credit
facilities and for other general corporate purposes.
The notes are being offered through a syndicate of dealers under
Pembina's short-form base shelf prospectus dated February 22, 2013, a related prospectus
supplement dated April 24, 2013 and a
related pricing supplement to be dated April
25, 2013.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the notes in any jurisdiction in
which such an offer, solicitation or sale would be unlawful. 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 nearly 60 years. Pembina owns
and operates: pipelines that transport conventional and
synthetic crude oil and natural gas liquids produced in western
Canada; oil sands, heavy oil and
diluent pipelines; gas gathering and processing facilities; and, an
oil and natural gas liquids infrastructure and logistics business.
With facilities strategically located in western Canada and in natural gas liquids 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 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 "anticipates", "expects",
"plans", "estimates", "will", "aims" and similar
expressions.
In particular, this news release contains
forward-looking information and statements relating to Pembina's
growth plans and the offering, including the anticipated closing
date 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 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: in respect of the
offering, the inability of Pembina to satisfy the conditions to the
closing of the offering in a timely manner, or at all;
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, 2012, which can be
found at www.sedar.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.
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 contained herein, except as required by
applicable laws.
All dollar values are in Canadian dollars.
SOURCE Pembina Pipeline Corporation