CALGARY, Ontario, Oct. 14,
2015 /PRNewswire/ -- Pembina Pipeline Corporation
("Pembina" or the "Company") (TSX:
PPL; NYSE: PBA) announced today that it has completed the
previously announced redemption (the "Redemption") of its
outstanding Series C 5.75% convertible unsecured subordinated
debentures (TSX: PPL.DB.C) (the "Series C Debentures") and its
outstanding Series E 5.75% convertible unsecured subordinated
debentures (TSX:PPL.DB.E) (the "Series E Debentures" and together
with the Series C Debentures, the "Debentures"). Pembina elected to satisfy the redemption
price of the Debentures through the issuance of common shares in
the capital of Pembina ("Common
Shares").
The aggregate outstanding principal amount of the Debentures was
$251,521,000 on the date of
Pembina's Redemption announcement
on August 27, 2015. The Debentures
were redeemed by the Company on October 13,
2015 (the "Redemption Date") and have been delisted from the
Toronto Stock Exchange. Pursuant to the conversion option available
to holders of the Debentures, an aggregate of 8,556,810 Common
Shares were issued in relation to conversion requests received by
Pembina between the date of its
Redemption announcement and October
9, 2015. The remaining balance of the outstanding
principal amount of Debentures was redeemed on the Redemption Date
for an aggregate of 319,273 Common Shares on the basis of 31 Common
Shares issued per $1,000 principal
amount of both series of Debentures. Accrued interest of
$21.27 per $1,000 principal amount of Series C Debentures
and $16.54 per $1,000 principal amount of Series E Debentures
was paid in cash. Cash was also paid in lieu of any
fractional shares that would have otherwise been issued on
conversion or Redemption. Following the Redemption, the
Company had a total of 354,727,404 Common Shares issued and
outstanding on October 13,
2015.
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 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 and ethane produced in North Dakota. 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.
Contact: Investor Relations: Chelsy
Hoy / Ian McAvity, (403)
231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com,
www.pembina.com
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SOURCE Pembina Pipeline Corporation