CALGARY, Alberta, Jan. 28, 2015 /PRNewswire/ -- Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA)
announced today that it has agreed to offer $600 million of senior unsecured medium-term
notes (the "Offering"). The Offering will be conducted in two
tranches consisting of $450 million
in senior unsecured medium-term notes, series 5 (the "Series 5
Notes") having a fixed coupon of 3.54% per annum, paid
semi-annually, and maturing on February 3,
2025, and $150 million through
the re-opening of its 4.75% medium-term notes, series 3, due
April 30, 2043 (the "Series 3
Notes").
Closing of the Offering is expected to occur on February 2, 2015 and net proceeds will be used to
reduce short term indebtedness of the Company under its credit
facilities, as well as to fund Pembina's capital program and for
other general corporate purposes.
The Series 3 Notes and Series 5 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 dated January 28, 2015.
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 60 years. Pembina owns and
operates pipelines that transport various hydrocarbon liquids
including conventional and synthetic crude oil, heavy oil and oil
sands products, condensate (diluent) and natural gas liquids
produced in western Canada. The
Company also owns and operates 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 (collectively, "forward-looking
statements"), including forward-looking statements within the
meaning of "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 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 growth plans and
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 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: 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, 2013, 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.
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.
For further information contact:
Investor Inquiries:
Scott Burrows
Vice President, Finance & Chief Financial Officer
(403) 231-3156
1-855-880-7404
e-mail: investor-relations@pembina.com
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SOURCE Pembina Pipeline Corporation