Pembina Pipeline Corporation Closes Offering of Preferred Shares

Pembina Pipeline Corporation closed its second public offering of preferred shares. 

Pursuant to the offering, Pembina issued 6,000,000 cumulative redeemable rate reset Class A preferred shares, Series 3 for aggregate gross proceeds of $150 million through a syndicate of underwriters co-led by RBC Dominion Securities Inc. and Scotia Capital Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc. 

The net proceeds of the offering were used to partially fund capital projects, to reduce short term indebtedness of Pembina under its credit facilities, which short term indebtedness was incurred to fund Pembina's capital program and for general corporate purposes.

Pembina was represented internally by Harry Andersen and Brenda Rawcliffe; and by Blake, Cassels & Graydon LLP with a team of Dallas Droppo, Jeff Bakker, Olga Kary and Britt Tan (corporate and securities) and Carrie Aiken (tax).

The underwriting syndicate was represented by Bennett Jones LLP with a team of David Phillips, Juliamai Giffen, John Lawless and Eric Chernin (corporate and securities) and Darcy Moch (tax).


Carrie Aiken Brenda L. Rawcliffe Juliamai Giffen Olga Kary Darcy D. Moch Jeffrey Bakker David F. Phillips Dallas L. Droppo Harold K. Andersen