Pembina Pipeline Corporation Announces Closing of $225 Million Subordinated Note Offering and Redemption of Series 9 Preferred Shares

Executive Summary

• Pembina Pipeline Corporation closed its $225 million offering of 5.95% Fixed‑to‑Fixed Rate Subordinated Notes, Series 2, due 2055.
• Net proceeds will be used to redeem all outstanding Series 9 Class A Preferred Shares at a redemption price of $25.00 per share and for general corporate purposes.
• The redemption will occur on December 1, 2025, with the final quarterly dividend on the preferred shares payable on that date.

Key Details

• Offering Size: Aggregate principal amount of $225 million.
• Notes Terms: 5.95% Fixed‑to‑Fixed Rate Subordinated Notes, Series 2, maturing June 6, 2055.
• Underwriters: Syndicate co‑led by CIBC Capital Markets, BMO Capital Markets and Scotiabank; offered under Pembina’s short‑form base shelf prospectus (dated Dec 13, 2023, supplemented Oct 8, 2025).
• Use of Proceeds:
• Redemption of all outstanding Series 9 Class A Preferred Shares (TSX: PPL.PR.I) on December 1, 2025 at $25.00 per share (aggregate redemption price $225 million).
• Remaining funds for general corporate purposes.
• Preferred Share Dividend: Final quarterly dividend of $0.268875 per Series 9 Class A Preferred Share, payable Dec 1, 2025 to holders of record Nov 3, 2025. After this payment, no accrued dividends will remain.
• Redemption Process: Notice provided to the sole registered holder; non‑registered holders instructed to contact their broker or Computershare (Investor Services Inc.) for assistance.
• Regulatory Notices: The notes are not a securities offering in the United States and have not been registered under the U.S. Securities Act.

Notable Quotes

(No executive quotes were included in the release.)