{"id":41876,"date":"2021-01-25T20:32:18","date_gmt":"2021-01-26T01:32:18","guid":{"rendered":"http:\/\/prefblog.com\/?p=41876"},"modified":"2021-01-25T20:32:18","modified_gmt":"2021-01-26T01:32:18","slug":"ppl-pr-k-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41876","title":{"rendered":"PPL.PR.K To Be Redeemed"},"content":{"rendered":"<p>Pembina Pipeline Corporation <a href=\"https:\/\/www.pembina.com\/media-centre\/news\/details\/135494\/\">has announced<\/a>:<\/p>\n<blockquote><p> that it has closed its previously announced offering of $600 million of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 25, 2081 (the &#8220;Offering&#8221;). The Company also announced its intention to redeem its issued and outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 11 (TSX: PPL.PR.K) (the &#8220;Series 11 Shares&#8221;) on March 1, 2021.<\/p>\n<p>Closing of Hybrid Note Offering<\/p>\n<p>Pembina expects to use the net proceeds of the Offering to fund the redemption of its outstanding Series 11 Shares and its Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 13 (TSX: PPL.PR.M), to repay other outstanding indebtedness, as well as for general corporate purposes.<\/p>\n<p>The subordinated notes were offered through a syndicate of underwriters, co-led by RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities, under Pembina&#8217;s short form base shelf prospectus dated December 30, 2020, as supplemented by a prospectus supplement dated January 12, 2021.<\/p><\/blockquote>\n<p>Pembina announced that they were <a href=\"http:\/\/prefblog.com\/?p=41832\">considering this step<\/a> in mid-January and <a href=\"http:\/\/prefblog.com\/?p=41843\">confirmed the intent<\/a> a few days later.<\/p>\n<p>PPL.PR.K was issued as a FixedReset, 5.75%+500M575 that <a href=\"http:\/\/prefblog.com\/?p=32006\">commenced trading 2016-1-15<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=31874\">announced 2016-1-6<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pembina Pipeline Corporation has announced: that it has closed its previously announced offering of $600 million of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 25, 2081 (the &#8220;Offering&#8221;). The Company also announced its &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-41876","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41876"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41876\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}