UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2015
Commission File Number: 001-35563
PEMBINA PIPELINE CORPORATION
(Name of registrant)
(Room #39-095) 4000, 585 8th Avenue S.W.
Calgary, Alberta T2P 1G1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
PEMBINA PIPELINE CORPORATION |
|
|
|
|
|
|
|
|
|
|
|
Date: March 31, 2015 |
By: |
/s/ Scott Burrows |
|
|
|
Name: Scott Burrows |
|
|
|
Title: Vice President, Finance and Chief Financial Officer |
|
|
|
|
Form 6-K Exhibit Index
Exhibit
Number |
|
Document
Description |
|
|
|
99.1 |
|
News Release Dated
March 31, 2015 - Pembina Pipeline Corporation Launches $200 Million Bought Deal Preferred Share Offering
|
Exhibit 99.1
Pembina Pipeline Corporation Launches $200 Million Bought Deal Preferred Share
Offering
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES./
CALGARY, March 31, 2015 /CNW/ - Pembina Pipeline Corporation
("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) is pleased to announce that it has entered into an agreement
with a syndicate of underwriters co-led by Scotiabank and RBC Capital Markets (together, the "Underwriters") pursuant
to which the Underwriters have agreed to purchase from Pembina 8,000,000 cumulative redeemable rate reset class A preferred shares,
Series 9 (the "Series 9 Preferred Shares") at a price of $25.00 per share for distribution to the public.
The holders of Series 9 Preferred Shares will be entitled to receive fixed
cumulative dividends at an annual rate of $1.1875 per share, payable quarterly on the 1st day of March, June, September and December,
as and when declared by the Board of Directors of Pembina, yielding 4.75 per cent per annum, for the initial fixed rate period
to but excluding December 1, 2020. The first quarterly dividend payment date is scheduled for September 1, 2015. The dividend rate
will reset on December 1, 2020 and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada
bond yield plus 3.91 per cent. The Series 9 Preferred Shares are redeemable by Pembina, at its option, on December 1, 2020 and
on December 1 of every fifth year thereafter at a price of $25.00 per share plus accrued and unpaid dividends.
The holders of Series 9 Preferred Shares will have the right to convert
their shares into cumulative redeemable floating rate class A preferred shares, Series 10 (the "Series 10 Preferred Shares"),
subject to certain conditions, on December 1, 2020 and on December 1 of every fifth year thereafter. The holders of Series 10 Preferred
Shares will be entitled to receive quarterly floating rate cumulative dividends, as and when declared by the Board of Directors
of Pembina, at a rate equal to the sum of the then 90-day Government of Canada treasury bill rate plus 3.91 per cent.
Pembina has granted to the underwriters an option, exercisable at any
time up to 48 hours prior to the closing of the offering, to purchase up to an additional 2,000,000 Series 9 Preferred Shares at
a price of $25.00 per share.
Closing of the offering is expected on April 10, 2015, subject to customary
closing conditions.
Proceeds from the offering will be used to reduce indebtedness under the
Company's credit facilities, which was incurred in connection with Pembina's 2015 capital expenditure program.
The offering is being made by means of a prospectus supplement under the
short form base shelf prospectus filed by the Company on March 18, 2015 in each of the provinces of Canada.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
About Pembina
Calgary-based Pembina Pipeline Corporation is a leading transportation
and midstream service provider that has been serving North America's energy industry for 60 years. Pembina owns and operates pipelines
that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate
(diluent) and natural gas liquids produced in western Canada and ethane produced in North Dakota. The Company also owns and operates
gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. With facilities
strategically located in western Canada and in natural gas liquids markets in eastern Canada and the U.S., Pembina also offers
a full spectrum of midstream and marketing services that spans across its operations. Pembina's integrated assets and commercial
operations enable it to offer services needed by the energy sector along the hydrocarbon value chain.
Forward-Looking Statements & Information
This document contains certain forward-looking statements and information
(collectively, "forward-looking statements") within the meaning of the "safe harbor" provisions of applicable
securities legislation that are based on Pembina's current expectations, estimates, projections and assumptions in light of its
experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology
such as "plans", "expects", "proposes", "projects", "will", "estimates",
"anticipates", "develop", "could" and similar expressions suggesting future events or future performance.
In particular, this news release contains forward-looking statements
and information relating to the planned use of proceeds ,size of and timing for the offering, and the timing of dividend payments.
These forward-looking statements and information are being made by Pembina based on certain assumptions that Pembina has made in
respect thereof as at the date of this document, including: that favourable growth parameters continue to exist in respect of current
and future growth projects (including the ability to finance such projects on favourable terms); and that Pembina's businesses
will continue to achieve sustainable financial results. These forward-looking statements are not guarantees of future performance
and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: non-performance of agreements
in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances and
agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation
or completion of third-party projects; regulatory environment and inability to obtain required regulatory approvals; tax laws and
treatment; fluctuations in operating results; the ability of Pembina to raise sufficient capital to complete future projects and
satisfy future commitments; construction delays; labour and material shortages; and certain other risks detailed from time to time
in Pembina's public disclosure documents including, among other things, those detailed under the heading "Risk Factors"
in Pembina's management's discussion and analysis and annual information form for the year ended December 31, 2014, which can be
found at www.sedar.com. In addition, the closing of the offering may not be completed, or may be delayed, if the conditions
to the closing of the offering are not satisfied on the anticipated timelines or at all. Accordingly, there is a risk that
the offering will not be completed within the anticipated time, on the terms currently proposed, or at all. The intended
use of the net proceeds of the offering by Pembina may change if the board of directors of Pembina determines that it would be
in the best interests of Pembina to deploy the proceeds for some other purpose.
Accordingly, readers are cautioned that events or circumstances could
cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly
qualified by the above statements. Pembina does not undertake any obligation to publicly update or revise any forward-looking
statements or information contained herein, except as required by applicable laws.
Pembina Pipeline® is a registered trademark of Pembina Pipeline
Corporation.
SOURCE Pembina Pipeline Corporation
%CIK: 0001546066
For further information: Investor Inquiries: Scott Burrows, Vice President,
Finance and CFO, (403) 231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com; Media Inquiries: Tanis Fiss, Supervisor,
External Communications, (403) 817-7131, e-mail: media@pembina.com
CO: Pembina Pipeline Corporation
CNW 09:54e 31-MAR-15
Pembina Pipeline (NYSE:PBA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pembina Pipeline (NYSE:PBA)
Historical Stock Chart
From Jul 2023 to Jul 2024