CALGARY, March 15, 2019 /PRNewswire/ - Pembina Pipeline
Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced today
that none of Pembina's Cumulative Redeemable Rate Reset Class A
Preferred Shares, Series 17 ("Series 17 Shares") (TSX:
PPL.PR.Q) will be converted into Cumulative Redeemable Floating
Rate Class A Preferred Shares, Series 18 of Pembina ("Series 18
Shares") on March 31, 2019.
After taking into account all conversion notices received from
holders of its outstanding Series 17 Shares by the March 15,
2019 deadline for the conversion of the Series 17 Shares into
Series 18 Shares, less than the 1,000,000 Series 17 Shares required
to give effect to conversions into Series 18 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 over 60 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 and an
oil and natural gas liquids infrastructure and logistics
business. 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's strategy is to:
- Preserve Value by providing safe, environmentally
conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which
enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are
expected to generate cash flow per share accretion and capture
long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world
needs, where they need it, and delivering it.
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.
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SOURCE Pembina Pipeline Corporation
