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CALGARY, March 22, 2018 /CNW/ - Pembina Pipeline Corporation
("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) announced today that it has agreed to issue $700
million of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in two tranches consisting
of $400 million in senior unsecured medium-term notes, series 10 (the "Series 10 Notes") having a
fixed coupon of 4.02% per annum, paid semi-annually, and maturing on March 27, 2028, and
$300 million in senior unsecured medium-term notes, series 11 (the "Series 11 Notes") having a
fixed coupon of 4.75% per annum, paid semi-annually, and maturing on March 26 , 2048.
Closing of the Offering is expected to occur on March 26, 2018 and the net proceeds will be used
to repay short-term indebtedness of the Company under its credit facilities, as well as to fund Pembina's capital program and for
general corporate purposes.
The Series 10 Notes and Series 11 Notes are being offered through a syndicate of dealers under Pembina's short-form base shelf
prospectus dated July 27, 2017 as supplemented by related pricing supplements dated March
22, 2018.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction.
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 over 60 years. Pembina owns
an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in
western Canada. The Company also owns gas gathering and processing facilities and an oil and
natural gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the
majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy
sector. Pembina is committed to working with its community and aboriginal neighbours, while providing value for investors in a
safe, environmentally responsible manner. This balanced approach to operating ensures the trust Pembina builds among all of its
stakeholders is sustainable over the long term. Pembina's common shares trade on the Toronto and
New York stock exchanges under PPL and PBA, respectively. Pembina's preferred shares also trade
on the Toronto stock exchange. For more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking information and statements (collectively, "forward-looking 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 statements can be identified by terminology such as
"expects", "will", and similar expressions.
In particular, this news release contains forward-looking statements relating to the offering, including the anticipated
closing date and size 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 market and industry conditions will be as predicted; 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: unforeseen and significant changes in market and/or industry conditions;
the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance of
agreements in accordance with their terms; 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, 2017, which can be found under Pembina's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission
at www.sec.gov and available on Pembina's
website at www.pembina.com. In addition, the closing of the offering
may not be completed, or may be delayed, if the conditions to the closing of the offering are not satisfied on the anticipated
timeline or at all. Accordingly, there is a risk that the offering will not be completed within the anticipated time, on
the terms currently proposed, or at all. 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 and there can be no guarantee as to how or when such proceeds may be used.
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
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