Chicago, Jan. 12 – Pembina Pipeline Corp. sold C$600 million of 4.8% fixed-to-fixed rate subordinated notes, series 1 due Jan. 25, 2081, according to a press release on Tuesday evening.
The offering was led by RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities.
Proceeds from the offering are expected to be used to redeem or repurchase the company’s minimum-rate reset class A preferred shares, series 11 and its cumulative redeemable minimum-rate reset class A preferred shares, series 13, to repay other outstanding debt, as well as for general corporate purposes.
The transportation and midstream service provider for the energy industry is based in Calgary, Alta.
| Issuer: | Pembina Pipeline Corp.
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| Amount: | C$600 million
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| Securities: | Fixed-to-fixed rate subordinated notes, series 1
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| Bookrunners: | RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 25
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| Distribution: | Canada
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