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Pembina closes C$700M offering of senior notes

Pembina Pipeline Corp. closed its public offering of C$700 million of senior unsecured medium-term notes, the proceeds of which would be used to pay down debt under its credit facilities.

The offering was carried out in two tranches. The first was C$400 million of series 10 notes, which has a fixed coupon of 4.02% per annum paid semiannually with a maturity date of March 27, 2028; and the second was C$300 million of series 11 notes, with a fixed coupon of 4.75% per annum and a maturity date of March 26, 2048.

The net proceeds would also be used to fund the company's capital program and for general corporate purposes.

Pembina is a Calgary, Alberta-based midstream company controlling a pipeline system, gas gathering and processing facilities, and other midstream assets.