Pembina Pipeline Corporation Announces $225 Million Subordinated Note Offering

Executive Summary

• Pembina Pipeline Corporation announced a $225 million issuance of 5.95% Fixed‑to‑Fixed Rate Subordinated Notes, Series 2, due June 6 2055.
• Combined with the prior $200 million issuance (June 2025), total outstanding Series 2 Notes will reach $425 million after closing.
• Net proceeds are earmarked to redeem outstanding Series 9 Class A Preferred Shares and for general corporate purposes.

Key Details

• Offering Size: $225 million aggregate principal amount.
• Interest Rate: 5.95% Fixed‑to‑Fixed rate.
• Maturity: June 6, 2055.
• Series: Subordinated Notes, Series 2 (additional to the $200 million issued on June 6 2025).
• Total Outstanding Post‑Closing: $425 million aggregate principal amount of Series 2 Notes.
• Expected Closing Date: On or about October 10 2025, subject to customary closing conditions.
• Use of Proceeds:
• Redemption of outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 (TSX: PPL.PR.I).
• General corporate purposes; may be temporarily invested in bank deposits/money‑market instruments or used to reduce short‑term indebtedness.
• Underwriters/Syndicate: Co‑led by CIBC Capital Markets, BMO Capital Markets and Scotiabank; offered under Pembina’s short‑form base shelf prospectus dated December 13 2023 (supplemented around October 8 2025).
• Regulatory Notes: The notes are not registered in the United States and may not be offered or sold to U.S. persons.

Notable Quotes

(No executive quotes were included in the release.)