By Cristal Cody
Tupelo, Miss., May 26 – Pembina Pipeline Corp. sold C$500 million of senior medium-term notes (BBB//DBRS: BBB) in two tranches on Tuesday, according to a news release.
Pembina Pipeline priced a C$100 million add-on to its 3.71% notes due Aug. 11, 2026.
The company originally sold C$500 million of the bonds on Aug. 8, 2016. The total outstanding is C$600 million.
Also, C$400 million of new 4.67% notes due May 28, 2050 were priced.
Pembina Pipeline plans to use the proceeds to repay debt under its $2.5 billion revolving credit facility due May 2024, to fund the company’s capital program and for other general corporate purposes.
The transportation and midstream service provider for the energy industry is based in Calgary, Alta.
| Issuer: | Pembina Pipeline Corp.
|
| Amount: | C$500 million
|
| Securities: | Senior medium-term notes
|
| Pricing date: | May 26
|
| Settlement date: | May 28
|
| Ratings: | S&P: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
|
|
| Series 7 notes
|
| Amount: | C$100 million reopening
|
| Maturity: | Aug. 11, 2026
|
| Coupon: | 3.71%
|
| Total outstanding: | C$600 million, including C$500 million of notes priced Aug. 8, 2016
|
|
|
| Series 16 notes
|
| Amount: | C$400 million
|
| Maturity: | May 28, 2050
|
| Coupon: | 4.67%
|
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