By Cristal Cody
Tupelo, Miss., April 2 – Pembina Pipeline Corp. provided additional details of its upsized C$800 million two-part sale of senior medium-term notes (BBB/DBRS: BBB) on Monday in final term sheets.
Pembina Pipeline sold C$400 million of 3.62% notes due April 3, 2029 at 99.967 to yield 3.624%. The 10-year offering was upsized from C$300 million.
The company priced C$400 million of 4.54% notes due April 3, 2049 at 99.902 to yield 4.546% in a 30-year tranche upsized from C$300 million.
CIBC World Markets Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc. were the bookrunners.
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$800 million
|
| Securities: | Senior medium-term notes
|
| Bookrunners: | CIBC World Markets Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc.
|
| Co-managers: | National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., J.P. Morgan Securities Canada Inc. and AltaCorp Capital Inc.
|
| Pricing date: | April 1
|
| Settlement date: | April 3
|
| Ratings: | S&P: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
|
|
| Ten-year notes
|
| Amount: | C$400 million
|
| Maturity: | April 3, 2029
|
| Securities: | Series 12 senior medium-term notes
|
| Coupon: | 3.62%
|
| Price: | 99.967
|
| Yield: | 3.624%
|
| Call features: | Make-whole call before Jan. 3, 2029 at greater of par and Government of Canada yield plus 47.5 bps; thereafter at par
|
| Change-of-control put: | 101%
|
|
|
| Thirty-year notes
|
| Amount: | C$400 million
|
| Maturity: | April 3, 2049
|
| Securities: | Series 13 senior medium-term notes
|
| Coupon: | 4.54%
|
| Price: | 99.902
|
| Yield: | 4.546%
|
| Call features: | Make-whole call before Oct. 3, 2048 at greater of par and Government of Canada yield plus 64 bps; thereafter at par
|
| Change-of-control put: | 101%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
