Pembina closes $225-million note offering

Executive Summary

• Pembina Pipeline Corp. closed a $225 million subordinated note offering (5.95% fixed‑to‑fixed rate, Series 2, due 2055).
• Net proceeds will be used to redeem all outstanding Series 9 cumulative redeemable preferred shares at $25 per share, totaling $225 million.
• The redemption includes a final quarterly dividend of C$0.268875 per preferred share payable on Dec. 1, 2025.

Key Details

• Offering size & terms: $225 million aggregate principal amount; 5.95% fixed‑to‑fixed rate subordinated notes, Series 2, due June 6, 2055.
• Underwriters: Syndicate co‑led by CIBC Capital Markets, BMO Capital Markets and Scotiabank under Pembina’s short‑form base shelf prospectus (dated Dec. 13, 2023; supplement dated Oct. 8, 2025).
• Use of proceeds: Full redemption of Series 9 cumulative redeemable rate‑reset Class A preferred shares; any remaining funds for general corporate purposes.
• Redemption price: $25 per Series 9 preferred share (less applicable taxes), total redemption amount $225 million.
• Dividend on redemption date: Final quarterly dividend of C$0.268875 per Series 9 share payable Dec. 1, 2025 to holders of record Nov. 3, 2025; no accrued dividends will remain after payment.
• Redemption timeline: Redemption scheduled for Dec. 1, 2025; notice provided to sole registered holder; non‑registered holders instructed to contact brokers/intermediaries.
• Transfer agent contact: Computershare Investor Services Inc.; phone 1‑800‑564‑6253; email [email protected].

Notable Quotes

(No executive quotes were included in the release.)