By Cristal Cody
Tupelo, Miss., March 22 – Pembina Pipeline Corp. sold C$700 million of senior medium-term notes (BBB//DBRS: BBB) in two tranches on Thursday, according to a news release.
Pembina Pipeline priced C$400 million of 4.02% series 10 notes due March 27, 2028 and C$300 million of 4.75% series 11 notes due March 26, 2048.
Additional pricing terms were not immediately available.
Pembina Pipeline plans to use the proceeds to repay short-term debt under its credit facilities, to fund the company’s capital program and for other general corporate purposes.
The transportation and midstream service provider for the energy industry is based in Calgary, Alta.
| Issuer: | Pembina Pipeline Corp.
|
| Amount: | C$700 million
|
| Securities: | Senior medium-term notes
|
| Pricing date: | March 22
|
| Settlement date: | March 26
|
| Ratings: | S&P: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
|
|
| Series 10 notes
|
| Amount: | C$400 million
|
| Maturity: | March 27, 2028
|
| Coupon: | 4.02%
|
|
|
| Series 11 notes
|
| Amount: | C$300 million
|
| Maturity: | March 26, 2048
|
| Coupon: | 4.75%
|
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