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Pembina Pipeline to repay debt under revolver via new note proceeds
By Sarah Lizee
Olympia, Wash., May 28 – Pembina Pipeline Corp. plans to repay debt under its unsecured C$2.5 billion revolving credit facility due May 2024 using proceeds from new notes, according to a press release.
The company sold C$500 million of senior medium-term notes (BBB//DBRS: BBB) in two tranches on Tuesday.
The revolver debt was incurred in connection with the company’s acquisition of the U.S. portion of the Cochin Pipeline system.
Proceeds will also be used to fund Pembina's capital program and for general corporate purposes.
The transportation and midstream service provider for the energy industry is based in Calgary, Alta.
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