Pembina Pipeline Corp. will issue C$1.5 billion of senior unsecured medium-term notes in a public offering.
Calgary, Alberta-based Pembina will carry out the offering in three tranches, comprising C$600 million of series 14 notes, which have a fixed coupon of 2.56% per year paid semiannually with a maturity date of June 1, 2023; C$600 million of series 15 notes, with a fixed coupon of 3.31% per year paid semiannually and a maturity date of Feb. 1, 2030; and C$300 million to be issued by reopening Pembina's 4.54% series 13 notes, due April 3, 2049.
The transportation and midstream service provider plans to use the net proceeds from the offering to pay back debt under its unsecured C$1 billion nonrevolving term loan due March 2021, fund its capital program and for general corporate purposes.
Pembina expects to close the offering Sept. 12, according to a Sept. 9 news release.
