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Pembina Announces $300 Million Bought-Deal Financing

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   |    Friday,March 18,2016

Pembina Pipeline Corporation announced that it has entered into an agreement with a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase from Pembina on a "bought deal" basis and sell to the public 8,825,000 common shares at a price of $34.00 per share, for gross proceeds of approximately $300 million.

Pembina has also granted the underwriters an over-allotment option to purchase, on the same terms and exercisable not more than 30 days after the closing of the offering, up to an additional 1,323,750 common shares for additional gross proceeds of up to $45 million. Closing of the offering is expected to occur on or about March 29, 2016, in which case purchasers under this offering who are shareholders of record on April 25, 2016 will be entitled to receive the Company's monthly cash dividend payable on May 13, 2016 in respect of any common shares held on the Record Date.

Pembina intends to use the net proceeds from the offering, together with funds available under the Company's existing credit facilities to finance the purchase price for its proposed acquisition of certain natural gas processing assets from Paramount Resources.


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