Pembina Pipeline considers subordinated note offering

Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) announced it is considering an offering of subordinated notes under its short form base shelf prospectus dated December 13, 2023.

The Calgary-based energy transportation company stated that if a successful offering is completed, it intends to use the net proceeds to redeem its outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 (TSX: PPL.PR.I) and for general corporate purposes.

Pembina noted there is no certainty that it will ultimately complete the offering being considered or as to the terms or timing on which such an offering might be completed.

The company clarified that the subordinated notes have not been registered under the United States Securities Act of 1933 and may not be offered or sold within the United States or to United States persons.

Pembina operates an energy transportation and midstream service network that includes hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure, and export terminals business across North America.

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