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Pembina Pipeline closes C$1B medium-term note offering


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Pembina Pipeline closes C$1B medium-term note offering

Calgary, Alberta-based Pembina Pipeline Corp. closed its previously announced offering of C$1 billion of senior unsecured medium-term notes with gross proceeds of C$1.07 billion, according to a Jan. 10 news release.

The notes were issued in three tranches comprising C$250 million through the reopening of Pembina's 4.02% medium-term notes, series 10, due March 27, 2028; C$500 million through the reopening of its 4.75% medium-term notes, series 11, due March 26, 2048; and C$250 million through a reopening of its 3.62% medium-term notes, series 12, due April 3, 2029.

Proceeds will be used to repay debt under Pembina's unsecured C$2.5 billion revolving credit facility due May 31, 2024, connected to the acquisition of the U.S. portion of the Cochin condensate pipeline system and for the company's capital program and general corporate purposes.