CALGARY, AB, Nov. 16, 2020
/CNW/ - Pembina Pipeline Corporation ("Pembina")
(TSX: PPL) (NYSE: PBA) announced today that none of Pembina's
Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9
("Series 9 Shares") (TSX: PPL.PR.I) will be converted into
Cumulative Redeemable Floating Rate Class A Preferred Shares,
Series 10 of Pembina ("Series 10 Shares") on December 1,
2020.
After taking into account all the conversion notices received
from holders of its outstanding Series 9 Shares by the November 16, 2020 deadline for the conversion of
the Series 9 Shares into Series 10 Shares, less than the 1,000,000
Series 9 Shares required to give effect to conversions into Series
10 Shares were tendered for conversion.
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 more than 65 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; an oil and natural
gas liquids infrastructure and logistics business; is growing an
export terminals business; and is currently developing a
petrochemical facility to convert propane into polypropylene.
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 common shares trade on
the Toronto and New York stock exchanges under
PPL and PBA, respectively. For more information,
visit www.pembina.com.
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SOURCE Pembina Pipeline Corporation