By Cristal Cody
Tupelo, Miss., April 1 - Pembina Pipeline Corp. priced C$600 million of 4.81% 30-year senior medium-term notes at 99.907 to yield 4.816% on Tuesday, according to the company and an informed source.
The series 4 notes due March 25, 2044 (/BBB/DBRS: BBB) priced at a spread of 181 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. and National Bank Financial Inc. were the lead managers.
Proceeds will be used to repay long-term debt upon maturity, fund the company's capital program and for general corporate purposes.
Calgary-based Pembina Pipeline is a transportation and service provider for the energy industry.
| Issuer: | Pembina Pipeline Corp.
|
| Amount: | C$600 million
|
| Maturity: | March 25, 2044
|
| Securities: | Senior medium-term notes
|
| Bookrunners: | CIBC World Markets Inc. and National Bank Financial Inc.
|
| Co-managers: | RBC Dominion Securities Inc., BMO Capital Markets Corp., Scotia Capital Inc. and TD Securities Inc.
|
| Coupon: | 4.81%
|
| Price: | 99.907
|
| Yield: | 4.816%
|
| Spread: | 181 bps over Government of Canada benchmark
|
| Call feature: | Canada bond yield plus 45 bps; six-month par call
|
| Pricing date: | April 1
|
| Settlement date: | April 4
|
| Ratings: Standard & Poor's: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
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