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Pembina closes C$600M senior note offering in 2024, 2047 tranches

Pembina Pipeline Corp. closed its offering of C$600 million of senior notes, carried out in two tranches of C$300 million each.

The first tranche consisted of senior unsecured medium-term notes with a fixed coupon of 2.99% per annum, maturing Jan. 22, 2024, and the second was of senior unsecured medium-term notes with a fixed coupon of 4.74% per annum, maturing Jan. 21, 2047.

Pembina plans to use the net proceeds to repay short-term indebtedness under its credit facilities, to fund its capital program and for general corporate purposes, according to a Jan. 20 news release.