CALGARY, Feb. 2, 2015 /CNW/ - Pembina Pipeline Corporation ("Pembina" or
the "Company") (TSX: PPL, NYSE: PBA) is pleased to announce that it has
closed its previously announced offering of $600 million of senior
unsecured medium-term notes (the "Offering"). The Offering was
conducted in two tranches consisting of $450 million in senior
unsecured medium-term notes, series 5 (the "Series 5 Notes") having a
fixed coupon of 3.54% per annum, paid semi-annually, and maturing on
February 3, 2025, and $150 million through the re-opening of its 4.75%
medium-term notes, series 3, due April 30, 2043 (the "Series 3 Notes").
The Offering was announced on January 28, 2015. The Series 3 Notes and
Series 5 Notes were offered through a syndicate of dealers under
Pembina's short-form base shelf prospectus dated February 22, 2013, a
related prospectus supplement dated April 24, 2013 and a related
pricing supplement dated January 28, 2015.
The net proceeds will be used by the Company to reduce short-term
indebtedness under its credit facilities, as well as to fund Pembina's
capital program and for other general corporate purposes.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the notes in any jurisdiction. The
notes being offered have not been approved or disapproved by any
regulatory authority. The notes have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), or any state securities laws, and may not
be offered or sold within the United States unless an exemption from
the registration requirements of the U.S. Securities Act is available.
Calgary-based Pembina Pipeline Corporation is a leading transportation
and midstream service provider that has been serving North America's
energy industry for over 60 years. Pembina owns and operates pipelines
that transport various hydrocarbon liquids including conventional and
synthetic crude oil, heavy oil and oil sands products, condensate
(diluent) and natural gas liquids produced in western Canada. The
Company also owns and operates gas gathering and processing facilities
and an oil and natural gas liquids infrastructure and logistics
business. With facilities strategically located in western Canada and
in natural gas liquids markets in eastern Canada and the U.S., Pembina
also offers a full spectrum of midstream and marketing services that
spans across its operations. Pembina's integrated assets and commercial
operations enable it to offer services needed by the energy sector
along the hydrocarbon value chain.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and
statements (collectively, "forward-looking statements"), including
forward-looking statements within the meaning of "safe harbor"
provisions of applicable securities legislation, that are based on
Pembina'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 ""expects", "will", and similar
expressions suggesting future events or future performance.
In particular, this news release contains forward-looking information
and statements relating to Pembina's growth plans and the offering,
including the anticipated closing date and size of the offering and the
anticipated use of the net proceeds of the offering. These
forward-looking statements are based on certain assumptions that
Pembina has made in respect thereof as at the date of this news
release, including: that favourable growth parameters continue to exist
in respect of current and future growth projects (including the ability
to finance such projects on favourable terms); that Pembina's
businesses will continue to achieve sustainable financial results; and
that the conditions to the closing of the offering can be met on the
These forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks and
uncertainties, including, but not limited to: the strength and
operations of the oil and natural gas production industry and related
commodity prices; non-performance of agreements in accordance with
their terms; fluctuations in operating results; the ability of Pembina
to raise sufficient capital to complete future projects and satisfy
future commitments; construction delays; labour and material shortages;
and certain other risks detailed from time to time in Pembina's public
disclosure documents including, among other things, those detailed
under the heading "Risk Factors" in Pembina's management's discussion
and analysis and annual information form for the year ended December
31, 2013, which can be found under Pembina's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov and available on Pembina's website at www.pembina.com. In addition,
the closing of the offering may not be completed, or may be delayed, if
the conditions to the closing of the offering are not satisfied on the
anticipated timeline or at all. Accordingly, there is a risk that the
offering will not be completed within the anticipated time, on the
terms currently proposed, or at all. The intended use of the net
proceeds of the offering by Pembina may change if the board of
directors of Pembina determines that it would be in the best interests
of Pembina to deploy the proceeds for some other purpose.
Readers are cautioned that events or circumstances could cause results
to differ materially from those predicted, forecasted or projected.
Such forward-looking statements are expressly qualified by the above
statements. Pembina does not undertake any obligation to publicly
update or revise any forward-looking statements contained herein,
except as required by applicable laws.
All dollar values are in Canadian dollars.
SOURCE Pembina Pipeline Corporation