NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE U.S.
CALGARY, June 11, 2015 /CNW/ - 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 $500 million
in senior unsecured medium-term notes, series 6 (the "Series 6
Notes") having a fixed coupon of 4.24 percent per annum, paid
semi-annually, and maturing on June 15,
2027, and $100 million
principal amount through the re-opening of the Company's 4.75
percent medium-term notes, series 3, due April 30, 2043 (the "Series 3 Notes").
Closing of the Offering is expected to occur on June 16, 2015 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 other
general corporate purposes.
The Series 3 Notes and Series 6 Notes are being offered through
a syndicate of dealers under Pembina's short-form base shelf prospectus
dated March 18, 2015, and a related
prospectus supplement dated June 11,
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 over 60 years. Pembina owns and operates an integrated system
of pipelines that transport various hydrocarbon liquids including
conventional and synthetic crude oil, heavy oil and oil sands
products, condensate (diluent) and NGL produced in western
Canada and ethane produced in
North Dakota. The Company also
owns and operates gas gathering and processing facilities and an
oil and NGL infrastructure and logistics business. With facilities
strategically located in western Canada and in NGL 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") 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, 2014,
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.
SOURCE Pembina Pipeline Corporation