Pembina Pipeline Corporation has successfully closed its previously announced offering of $1.8 billion in senior unsecured medium-term notes. As announced last Friday by the company through a press release, the offering was conducted in three tranches:

• $600 million in notes with a 5.02% coupon maturing in 2032
• $600 million in notes with a 5.21% coupon maturing in 2034
• $600 million in notes with a 5.67% coupon maturing in 2054

Pembina expects to use the proceeds from the offering to partially fund the previously announced acquisition of Enbridge Inc.'s interests in the Alliance, Aux Sable, and NRGreen Power joint ventures and related operatorship contracts.

The funds will also be used to repay debt under its $1.5 billion revolving credit facility and for general corporate purposes.

"This successful offering demonstrates strong investor confidence in Pembina's growth strategy and financial strength," said Pembina President and CEO Scott Smith.

"The proceeds will allow us to continue to invest in our core businesses and pursue strategic acquisitions while maintaining a healthy financial position."

The notes were offered through a syndicate of dealers under Pembina's short-form base shelf prospectus dated December 20, 2023.

According to the release, the notes have not been approved or disapproved by any regulatory authority and have not been and will not be registered under the United States Securities Act of 1933 or any state securities law.

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 65 years.

Pembina owns and operates an extensive network of pipelines and facilities that transport, fractionate, refine, and market natural gas, NGLs, and crude oil. Pembina is committed to building a sustainable future by investing in renewable energy and emissions reduction projects.