Pembina plans C$600 million two-part add-on to 2.99% and 4.74% notes

By Devika Patel

Knoxville, Tenn., Aug. 14 – Pembina Pipeline Corp. plans a C$600 million add-on to two of its tranches of senior unsecured medium-term notes, according to a company news release.

The company plans to offer C$350 million of 2.99% series 8 notes due Jan. 22, 2024. These notes priced for C$300 million on Jan. 17, 2017 at a spread of 225 basis points over the interpolated Government of Canada bond curve.

Pembina Pipeline will sell C$250 million more of 4.74% series 9 notes due Jan. 21, 2047, which priced for C$300 million in January.

Settlement is expected Aug. 16.

Pembina Pipeline plans to use the proceeds from the deal to repay short-term debt under the company’s credit facilities, for Pembina's capital program and for other general corporate purposes.

The transportation and midstream service provider for the energy industry is based in Calgary, Alta.

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