Pembina arranges $225-million note offering

Executive Summary

• Pembina Pipeline Corp. announced a $225 million subordinated note offering (Series 2, 5.95% fixed‑to‑fixed rate, due 2055).
• Combined with the prior $200 million issuance, total outstanding Series 2 notes will equal $425 million after closing.
• Net proceeds are earmarked to redeem outstanding cumulative redeemable preferred shares (Class A Series 9) and for general corporate purposes.

Key Details

• Offering Size: $225 million aggregate principal amount of 5.95% fixed‑to‑fixed rate subordinated notes, Series 2.
• Maturity: June 6, 2055.
• Previous Issuance: Series 2 notes previously issued on June 6, 2025 for $200 million.
• 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.
• General corporate purposes.
• Investment of Proceeds (Pending Use): May be placed in bank deposits and/or other money‑market instruments or used to temporarily reduce short‑term indebtedness.
• Underwriters: Syndicate co‑led by CIBC Capital Markets, BMO Capital Markets, and Scotiabank.
• Prospectus Basis: Offered under Pembina’s short‑form base shelf prospectus dated December 13, 2023, supplemented by a prospectus supplement to be dated around October 8, 2025.

Notable Quotes

(No direct quotes were provided in the release.)