CALGARY, Alberta, Nov. 15, 2019 /CNW/ - Pembina Pipeline
Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced today
that none of Pembina's Cumulative Redeemable Rate Reset Class A
Preferred Shares, Series 7 ("Series 7 Shares") (TSX: PPL.PR.G)
will be converted into Cumulative Redeemable Floating Rate Class A
Preferred Shares, Series 8 of Pembina ("Series 8 Shares")
on December 2, 2019.
After taking into account all conversion notices received from
holders of its outstanding Series 7 Shares by the November 15,
2019 deadline for the conversion of the Series 7 Shares into
Series 8 Shares, less than the 1,000,000 Series 7 Shares required
to give effect to conversions into Series 8 Shares were tendered
for conversion.
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 65 years. Pembina owns an
integrated system of pipelines that transport various hydrocarbon
liquids and natural gas products produced primarily in western
Canada. The Company also owns gas
gathering and processing facilities; an oil and natural gas liquids
infrastructure and logistics business; is growing an export
terminals business; and is currently constructing a petrochemical
facility to convert propane into polypropylene. Pembina's
integrated assets and commercial operations along the majority of
the hydrocarbon value chain allow it to offer a full spectrum of
midstream and marketing services to the energy sector. Pembina is
committed to identifying additional opportunities to connect
hydrocarbon production to new demand locations through the
development of infrastructure that would extend Pembina's service
offering even further along the hydrocarbon value chain.
These new developments will contribute to ensuring that
hydrocarbons produced in the Western Canadian Sedimentary Basin and
the other basins where Pembina operates can reach the highest value
markets throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets:
- Customers choose us first for reliable and
value-added services;
- Investors receive sustainable industry-leading
total returns;
- Employees say we are the 'employer of choice' and
value our safe, respectful, collaborative and fair work culture;
and
- Communities welcome us and recognize the net
positive impact of our social and environmental commitment.
Pembina is structured into three Divisions: Pipelines
Division, Facilities Division and Marketing & New Ventures
Division.
Pembina's common shares trade on
the Toronto and New York stock exchanges under
PPL and PBA, respectively. For more information,
visit www.pembina.com.
Investor Relations: Scott Arnold,
(403) 231-3156, 1-855-880-7404, e-mail:
investor-relations@pembina.com, www.pembina.com