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Last updated on April 24, 2014 at 17:35 EDT

Pembina Pipeline Corporation Announces Closing of $150 Million Preferred Share Offering

October 2, 2013

All financial figures are in Canadian dollars, unless otherwise noted.

CALGARY, Oct. 2, 2013 /PRNewswire/ – Pembina Pipeline Corporation (“Pembina” or
the “Company”) (TSX: PPL; NYSE: PBA) is pleased to announce that it has
closed its previously announced public offering of 6,000,000 cumulative
redeemable rate reset class A preferred shares, series 3 (the “Series 3
Preferred Shares”) for aggregate gross proceeds of $150 million (the
“Offering”).

The Offering was first announced on September 23, 2013 when Pembina
entered into an agreement with a syndicate of underwriters.

Proceeds from the Offering will be used to partially fund capital
projects, to reduce short-term indebtedness and for other general
corporate purposes of the Company and its affiliates.

The Series 3 Preferred Shares will begin trading on the Toronto Stock
Exchange today under the symbol PPL.PR.C.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy the Series 3 Preferred Shares in any jurisdiction.
The Series 3 Preferred Shares to be offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended, or under any state securities laws, and may not be offered or
sold within the United States.

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 and 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 span 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 document contains certain forward-looking statements and
information (collectively, “forward-looking statements”) within the
meaning of the “safe harbor” provisions of applicable securities
legislation that are based on Pembina’s current expectations,
estimates, projections and assumptions in light of its experience and
its perception of historical trends.  In some cases, forward-looking
statements can be identified by terminology such as “plans”, “expects”,
“proposes”, “projects”, “will”, “estimates”, “anticipates”, “develop”,
“could” and similar expressions suggesting future events or future
performance.

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 “to be”, “expects”, “projects” and similar
expressions.

In particular, this news release contains forward-looking statements and
information relating to the planned use of proceeds. These
forward-looking statements and information are being made by Pembina
based on certain assumptions that Pembina has made in respect thereof
as at the date of this document, 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); and that Pembina’s businesses will continue to achieve
sustainable financial results. 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:
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 or information
contained herein, except as required by applicable laws.

Pembina Pipeline® is a registered trademark of Pembina Pipeline
Corporation.

SOURCE Pembina Pipeline Corporation


Source: PR Newswire