Debt | Capital Markets
Pembina Holds $150MM Preferred Share Offering
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Pembina Pipeline Corporation has entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets and Scotiabank, pursuant to which the underwriters have agreed to purchase from Pembina 6,000,000 cumulative redeemable rate reset class A preferred shares, series 3 at a price of $25.00 per share for distribution to the public.
The holders of Series 3 Preferred Shares will be entitled to receive fixed cumulative dividends at an annual rate of $1.1750 per share, payable quarterly on the 1st day of March, June, September and December, as and when declared by the Board of Directors of Pembina, yielding 4.70 per cent per annum, for the initial fixed rate period to but excluding March 1, 2019. The first quarterly dividend payment date is scheduled for December 1, 2013. The…
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