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at 02:57 Aug 04,2020
News Release

Pembina Pipeline Refinances $75 Million of Long Term Debt

    CALGARY, April 23 /CNW/ - Pembina Pipeline Corporation ("Pembina"), a
wholly owned subsidiary of Pembina Pipeline Income Fund (TSX: PIF.UN,
PIF.DB.B), announced today that it has obtained a commitment for a $75 million
non-revolving credit facility from a Canadian Chartered Bank. The credit
facility is for a term of 5 years at a fixed rate based on a spread above 5
year GOC bond rates to be determined at drawdown and which Pembina anticipates
will be approximately 6 percent. The commitment is subject to a number of
conditions including execution of a definitive credit agreement by April 30,
2009. The net proceeds of the credit facility are to be used for the
refinancing of $75 million floating rate notes coming due on June 22, 2009,
and may also be used for general corporate purposes at Pembina's discretion.
    Peter Robertson, Pembina's Vice President Finance & CFO stated "This
transaction is evidence of Pembina's ability to access the capital markets at
attractive rates during times of uncertainty, ensuring the corporation retains
the financial flexibility it requires to execute its business plan."

    Pembina Pipeline Income Fund (the "Fund") (TSX: PIF.UN, PIF.DB.B) is
among the leading issuers in the Canadian energy infrastructure trust sector.
Pembina's extensive network of conventional liquids feeder pipelines, growing
presence in the oil sands, heavy oil and midstream sectors, provide an
integral service to the Western Canadian energy industry. This balanced
portfolio of premium, long-life energy infrastructure assets supports the
stability and sustainability of the Fund. Information on the Pembina Pipeline
Income Fund is available on Pembina's website at www.pembina.com.

    Forward-Looking Information and Statements

    This new release contains certain forward-looking information and
statements that are based on the Fund's current expectations, estimates,
projections and assumptions in light of its experience and its perception of
historical trends. In this news release, such forward-looking information and
statements can be identified by terminology such as "may", "will", "should",
"expects", "projects", "plans", "anticipates", "contemplates", "targets",
"believes", "strives", "estimates", "continue", "designed", "objective",
"maintain", "schedule", "endeavor", "subject", "development, "confidence" and
similar expressions.
    The forward-looking statements are not guarantees of future performance
and are subject to a number of known and unknown risks and uncertainties.
These risks and uncertainties include, among other things, those detailed
under the heading "Risk Factors" in the Fund's annual information form for the
year ended December 31, 2008 and the Fund's management's discussion and
analysis for the year ended December 31, 2008, each of which can be found
under the Fund's SEDAR profile at www.sedar.com. Accordingly, readers are
cautioned that events or circumstances could cause results to differ
materially from those predicted, forecasted or projected. Undue reliance
should not be placed on these forward-looking statements as both known and
unknown risks and uncertainties, including those business risks referred to
above, may cause actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such forward-looking
statements are expressly qualified by the above statements. The Fund does not
undertake any obligation to publicly update or revise any forward-looking
statements or information contained herein, except as required by applicable

    %SEDAR: 00008906E
For further information: Glenys Hermanutz, Vice President, Corporate
Affairs, Pembina Pipeline Corporation, (403) 231-7500, 1-888-428-3222, e-mail: