Pembina Pipeline Corporation Announces $600 Million Public Note Offering

CALGARY, Alberta, Jan. 28, 2015 /PRNewswire/ -- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) announced today that it has agreed to offer $600 million of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in two tranches consisting of $450 million in senior unsecured medium-term notes, series 5 (the "Series 5 Notes") having a fixed coupon of 3.54% per annum, paid semi-annually, and maturing on February 3, 2025, and $150 million through the re-opening of its 4.75% medium-term notes, series 3, due April 30, 2043 (the "Series 3 Notes").

Closing of the Offering is expected to occur on February 2, 2015 and net proceeds will be used to reduce short term indebtedness of the Company under its credit facilities, as well as to fund Pembina's capital program and for other general corporate purposes.

The Series 3 Notes and Series 5 Notes are being offered through a syndicate of dealers under Pembina's short-form base shelf prospectus dated February 22, 2013, a related prospectus supplement dated April 24, 2013 and a related pricing supplement dated January 28, 2015.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction. The notes being offered have not been approved or disapproved by any regulatory authority. The notes 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 an exemption from the registration requirements of the U.S. Securities Act 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. 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.