Pembina Pipeline issues $950M notes (NYSE:PBA)

Pembina Pipeline (NYSE:PBA) agreed to issue $950M aggregate principal amount of senior unsecured medium-term notes.
The offering will be conducted in three tranches consisting of: (i) $650M senior unsecured medium-term notes maturing on June 28, 2033; (ii) $150M principal amount to be issued through a re-opening of the company’s senior unsecured medium-term notes maturing on January 12, 2032; and (iii) $150M principal amount to be issued through a re-opening of the company’s senior unsecured medium-term notes maturing on January 12, 2054.
Closing is expected to occur on June 28, 2024.
Net proceeds of the offering will be used to repay indebtedness under its unsecured $1.5B revolving credit facility maturing in June 2029, fund the previously announced redemption of $150M of its $300M due June 22, 2026 and for general corporate purposes.