Pembina Pipeline to use new notes to redeem or repurchase preferreds

Chicago, Jan. 12 – Pembina Pipeline Corp. confirmed that it will use proceeds from an offering of C$600 million of new notes to redeem some of its outstanding preferreds, according to a press release on Tuesday evening.

The new notes will 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.

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