CALGARY, Alberta, April 2, 2019 /PRNewswire/ -- Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL;
NYSE: PBA) announced today that it has agreed to issue
$800 million of senior unsecured
medium-term notes (the "Offering"). The Offering will be
conducted in two tranches consisting of $400
million in senior unsecured medium-term notes, series 12
(the "Series 12 Notes") having a fixed coupon of 3.62% per annum,
paid semi-annually, and maturing on April 3,
2029, and $400 million in
senior unsecured medium-term notes, series 13 (the "Series 13
Notes") having a fixed coupon of 4.54% per annum, paid
semi-annually, and maturing on April 3,
2049.
Closing of the Offering is expected to occur on April 3, 2019 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
general corporate purposes.
The Series 12 Notes and Series 13 Notes are being offered
through a syndicate of dealers under Pembina's short-form base
shelf prospectus dated July 27, 2017
as supplemented by related pricing supplements dated April 1, 2019.
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, or any state securities law,
and may not be offered or sold within the United States.
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 an integrated
system of pipelines that transport various hydrocarbon liquids and
natural gas products produced primarily in western Canada. The
Company also owns 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 majority of the hydrocarbon value chain allow
it to offer a full spectrum of midstream and marketing services to
the energy sector. Pembina is committed to identifying
additional opportunities to connect hydrocarbon production to new
demand locations through the development of infrastructure that
would extend Pembina's service offering even further
along the hydrocarbon value chain. These new developments will
contribute to ensuring that hydrocarbons produced in the Western
Canadian Sedimentary Basin and the other basins
where Pembina operates can reach the highest value
markets throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets;
- Customers choose us first for reliable and value-added
services;
- Investors receive sustainable industry-leading total
returns;
- Employees say we are the 'employer of choice' and value
our safe, respectful, collaborative and fair work culture; and
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
Pembina's strategy is to:
- Preserve Value by providing safe, environmentally
conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which
enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are
expected to generate cash flow per share accretion and capture
long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world
needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines
Division, Facilities Division and Marketing & New Ventures
Division.
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 Information and Statements
This news release 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 "intend", "will", "shall", and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
statements relating to the offering, including the anticipated
closing date and the expected 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: prevailing commodity
prices, margins and exchange rates, that Pembina's businesses will
continue to achieve sustainable financial results and that future
results of operations will be consistent with past performance and
management expectations in relation thereto, the availability and
sources of capital, operating costs, ongoing utilization and future
expansions, the ability to reach required commercial agreements,
and the ability to obtain required regulatory approvals. 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 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, 2018, which can be
found 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 and there can
be no guarantee as to how or when such proceeds may be
used.
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.
For further information: Investor Relations, Scott Arnold, (403) 231-3156, 1-855-880-7404,
e-mail: investor-relations@pembina.com, www.pembina.com