Pembina says no series 17 preferreds to be converted to series 18 shares

By Wendy Van Sickle

Columbus, Ohio, March 15 – Pembina Pipeline Corp. said none of its outstanding its cumulative redeemable rate reset class A preferred shares, series 17, will be converted into cumulative redeemable floating-rate class A preferred shares, series 18.

The issuer announced on March 1 that the series 17 preferred shares would be convertible until 5 p.m. ET on March 15, by which time fewer than 1 million of the series 17 preferred shares required to give effect to conversions into series 18 shares were tendered for conversion, according to a news release.

Calgary, Alta.-based Pembina Pipeline is a transportation and midstream service provider to the energy industry.

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