By Cristal Cody
Prospect News, April 25 - Pembina Pipeline Corp. on Thursday sold C$200 million of 4.75% senior medium-term notes due April 30, 2043 at 99.762 to yield 4.765%, according to an informed bond source.
The series 3 notes (/BBB/DBRS: BBB) priced at a spread of 235 basis points over the Government of Canada benchmark.
National Bank Financial Inc. and CIBC World Markets Inc. were joint bookrunners.
Proceeds will be used to reduce short-term debt under the company's credit facilities and for other general corporate purposes.
Calgary, Alta.-based Pembina Pipeline is a transportation and midstream service provider for the energy industry.
| Issuer: | Pembina Pipeline Corp.
|
| Amount: | C$200 million
|
| Maturity: | April 30, 2043
|
| Securities: | Senior medium-term notes
|
| Bookrunners: | National Bank Financial Inc. and CIBC World Markets Inc.
|
| Co-managers: | BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
|
| Coupon: | 4.75%
|
| Price: | 99.762
|
| Yield: | 4.765%
|
| Spread: | 235 bps over Government of Canada benchmark
|
| Call feature: | Six-month par call; Canada bond yield plus 58.5 bps
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Ratings: | Standard & Poor's: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
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