CALGARY, June 15, 2020 /PRNewswire/ -- Pembina
Pipeline Corporation ("Pembina") (TSX: PPL) (NYSE: PBA)
announced today that none of Pembina's Cumulative Redeemable Rate
Reset Class A Preferred Shares, Series 19 ("Series 19
Shares") (TSX: PPL.PR.S) will be converted into Cumulative
Redeemable Floating Rate Class A Preferred Shares, Series 20 of
Pembina ("Series 20 Shares") on June 30, 2020.
After taking into account all the conversion notices received
from holders of its outstanding Series 19 Shares by the
June 15, 2020 deadline for the
conversion of the Series 19 Shares into Series 20 Shares, less than
the 1,000,000 Series 19 Shares required to give effect to
conversions into Series 20 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 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.
Investor Relations: Scott Arnold,
(403) 231-3156, 1-855-880-7404, e-mail:
investor-relations@pembina.com, www.pembina.com