All financial figures are in Canadian dollars.
CALGARY, March 29, 2016 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is
pleased to announce that it has closed its previously announced
bought deal offering of 10,148,750 common shares at a price of
$34.00 per share through a syndicate
of underwriters (the "Offering"), which includes 1,323,750 common
shares issued at the same price on the exercise in full of the
over-allotment option granted to the underwriters. The aggregate
gross proceeds from the Offering are approximately $345 million.
Pembina intends to use the net
proceeds from the Offering, together with funds available under the
Company's existing credit facilities to finance the purchase price
for its proposed acquisition of certain natural gas processing
assets from Paramount Resources.
The common shares were offered pursuant to a prospectus
supplement under the short form base shelf prospectus filed by the
Company on March 18, 2015 in each of
the provinces of Canada and in the
U.S. pursuant to applicable exemptions.
The common shares issued pursuant to the Offering have not been
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States absent registration or an
applicable exemption from the registration requirements
thereunder.
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 products derived from natural
gas and hydrocarbon liquids produced in western Canada and North
Dakota. The Company also owns and operates gas gathering and
processing facilities and an oil and natural gas liquids
infrastructure and logistics business. Pembina's integrated assets and commercial
operations along the entire hydrocarbon value chain allow it to
offer a full spectrum of midstream and marketing services to the
energy sector. Pembina is
committed to working with its community and aboriginal neighbours,
while providing value for investors in a safe, environmentally
responsible manner. This balanced approach to operating ensures the
trust Pembina builds among all of
its stakeholders is sustainable over the long-term. Pembina's common shares trade on the
Toronto and New York stock exchanges under PPL and PBA,
respectively. For more information, visit www.pembina.com.
Forward-Looking Statements & Information
This document contains certain forward-looking statements and
information (collectively, "forward-looking statements") within the
meaning of the "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 some cases, forward-looking
statements can be identified by terminology such as "intends",
"plans", "expects", "proposes", "projects", "will", "estimates",
"anticipates", "develop", "could" and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
statements and information relating to the planned use of proceeds.
These forward-looking statements and information are being made by
Pembina based on certain
assumptions that Pembina has made
in respect thereof as at the date of this document, 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); and that Pembina's businesses will continue to achieve
sustainable financial results. 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: 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 levels of
activity in the oil and natural gas production industry and related
commodity prices; the continuation or completion of third-party
projects; the regulatory environment and the ability to obtain
required regulatory approvals; tax laws and treatment; fluctuations
in operating results; the ability of Pembina to raise sufficient additional 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, 2015,
which can be found at www.sedar.com. In addition, the intended use
of the net proceeds of the Offering by Pembina may change if the proposed acquisition
is not completed.
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 or
information contained herein, except as required by applicable
laws.
Pembina Pipeline® is a registered trademark of Pembina
Pipeline Corporation.
SOURCE Pembina Pipeline Corporation