By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Pembina Pipeline Corp. priced C$1 billion of senior medium-term notes in reopenings of three notes on Wednesday, according to a news release.
Pembina Pipeline priced C$250 million of notes in a reopening of its 4.02% notes, series 10, due March 27, 2028.
The company priced C$500 million of notes in a reopening of its 4.75% notes, series 11, due March 26, 2048.
The issuer also priced C$250 million of 3.62% series 12 notes due April 3, 2029 in a reopening.
The company issued C$400 million of the series 10 notes and C$300 million of the series 11 notes in March 2018.
It issued C$400 million of the series 12 notes in April 2019.
Additional pricing terms were not immediately available.
Pembina Pipeline plans to use the proceeds to repay debt under the company’s unsecured C$2.5 billion revolving credit facility due May 31, 2024 incurred in connection with the acquisition of the U.S. portion of the Cochin Pipeline system, as well as to fund its capital program and for general corporate purposes.
The transportation and midstream service provider for the energy industry is based in Calgary, Alta.
| Issuer: | Pembina Pipeline Corp.
|
| Amount: | C$1 billion
|
| Securities: | Senior medium-term notes
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 10
|
| Distribution: | Canada
|
|
|
| Series 10 notes reopening
|
| Amount: | C$250 million
|
| Maturity: | March 27, 2028
|
| Coupon: | 4.02%
|
| Original issue: | C$400 million in March 2018
|
|
|
| Series 11 notes reopening
|
| Amount: | C$500 million
|
| Maturity: | March 26, 2048
|
| Coupon: | 4.75%
|
| Original issue: | C$300 million in March 2018
|
|
|
| Series 12 notes reopening
|
| Amount: | C$250 million
|
| Maturity: | April 3, 2039
|
| Coupon: | 3.62%
|
| Original issue: | C$400 million in April 2019
|
|
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