CALGARY, April 25, 2013 /PRNewswire/ - Pembina Pipeline Corporation ("Pembina"
or the "Company") (TSX: PPL, NYSE: PBA) announced today that it has
agreed to offer $200 million of senior unsecured medium-term notes. The
notes have a fixed interest rate of 4.75% per annum, paid
semi-annually, and will mature on April 30, 2043.
Closing of the offering is anticipated to occur on April 30 and the net
proceeds will be used to reduce short term indebtedness of the Company
under its credit facilities and for other general corporate purposes.
The notes are being 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 to be dated April 25, 2013.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the notes in any jurisdiction in which
such an offer, solicitation or sale would be unlawful. 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.
About Pembina
Calgary-based Pembina Pipeline Corporation is a leading transportation
and midstream service provider that has been serving North America's
energy industry for nearly 60 years. Pembina owns and operates:
pipelines that transport conventional and synthetic crude oil and
natural gas liquids produced in western Canada; oil sands, heavy oil
and diluent pipelines; 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 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 "anticipates", "expects", "plans", "estimates",
"will", "aims" and similar expressions.
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 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
anticipated timelines.
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: in respect of the
offering, the inability of Pembina to satisfy the conditions to the
closing of the offering in a timely manner, or at all; non-performance
of agreements in accordance with their terms; the impact of competitive
entities and pricing; reliance on key industry partners, alliances and
agreements; the strength and operations of the oil and natural gas
production industry and related commodity prices; the continuation or
completion of third-party projects; regulatory environment and
inability to obtain required regulatory approvals; tax laws and
treatment; 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, 2012, which can be found at www.sedar.com. 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.
Accordingly, 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