CALGARY, AB, Dec. 10, 2021 /PRNewswire/ -- Pembina
Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE:
PBA) is pleased to announce that it has closed its previously
announced offering of $1.0 billion of
senior unsecured medium-term notes (the "Offering"). The Offering
was conducted in two tranches consisting of $500 million principal amount of senior unsecured
medium-term notes, series 17 (the "Series 17 Notes") having a fixed
coupon of 3.53% per annum, paid semi-annually, and maturing on
December 10, 2031; and $500 million principal amount of senior unsecured
medium-term notes, series 18 (the "Series 18 Notes") having a fixed
coupon of 4.49% per annum, paid semi-annually, and maturing on
December 10, 2051.
The Offering was announced on December 8,
2021. The Series 17 Notes and Series 18 Notes were offered
through a syndicate of dealers under Pembina's short-form base
shelf prospectus dated November 29,
2021, as supplemented by related pricing supplements dated
December 8, 2021.
The net proceeds will be used to repay indebtedness of the
Company under its unsecured $2.5
billion revolving credit facility, as well as for general
corporate purposes.
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 laws, 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 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; and is growing
an export terminals 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 inclusive work culture.
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
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 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: oil
and gas industry exploration and development activity levels and
the geographic region of such activity; that favourable market
conditions exist, and that Pembina has available capital, for share
repurchases; the success of Pembina's operations; prevailing
commodity prices, interest rates, carbon prices, tax rates and
exchange rates; the ability of Pembina to maintain current credit
ratings; the availability of capital to fund future capital
requirements relating to existing assets and projects; future
operating costs; geotechnical and integrity costs; that all
required regulatory and environmental approvals can be obtained on
the necessary terms in a timely manner; prevailing regulatory, tax
and environmental laws and regulations; maintenance of operating
margins; and certain other assumptions in respect of Pembina's
forward-looking statements detailed in Pembina's Restated Annual
Information Form for the year ended December
31, 2020 (the "AIF") and Restated Management's Discussion
and Analysis for the year ended December 31,
2020 (the "Annual MD&A"), which were each filed on SEDAR
on November 18, 2021, in Pembina's
Management's Discussion and Analysis for the three and nine months
ended September 30, 2021 (the
"Interim MD&A") and from time to time in Pembina's public
disclosure documents available at www.sedar.com, www.sec.gov and
through Pembina's website at www.pembina.com.
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 regulatory
environment and decisions and Indigenous and landowner consultation
requirements; the impact of competitive entities and pricing;
reliance on third parties to successfully operate and maintain
certain assets; the strength and operations of the oil and natural
gas production industry and related commodity prices;
nonperformance or default by counterparties to agreements which
Pembina or one or more of its affiliates has entered into in
respect of its business; actions by governmental or regulatory
authorities; the ability of Pembina to acquire or develop the
necessary infrastructure in respect of future development projects;
fluctuations in operating results; adverse general economic and
market conditions in Canada,
North America and worldwide; risks
relating to the current and potential adverse impacts of the
COVID-19 pandemic; the ability to access various sources of debt
and equity capital; changes in credit ratings; counterparty credit
risk; and certain other risks and uncertainties detailed in the
AIF, Annual MD&A, Interim MD&A and from time to time in
Pembina's public disclosure documents available at www.sedar.com,
www.sec.gov and through 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.
Investor Relations, Scott Arnold,
(403) 231-3156, 1-855-880-7404, e-mail:
investor-relations@pembina.com, www.pembina.com
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