CALGARY, May 21, 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 5 ("Series 5 Shares") (TSX: PPL.PR.E)
will be converted into Cumulative Redeemable Floating Rate Class A
Preferred Shares, Series 6 of Pembina ("Series 6 Shares")
on June 3, 2019.
After taking into account all conversion notices received from
holders of its outstanding Series 5 Shares by the May 17,
2019 deadline for the conversion of the Series 5 Shares into
Series 6 Shares, less than the 1,000,000 Series 5 Shares required
to give effect to conversions into Series 6 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 Canada 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.
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SOURCE Pembina Pipeline Corporation
