Pembina Closes $225 Million Note Offering, to Redeem Series 9 Preferred Shares

Pembina Pipeline Corp. has completed a $225 million subordinated note offering and plans to redeem its Series 9 preferred shares in December 2025, using the proceeds to strengthen its balance sheet and streamline capital structure.

(P&GJ) — Pembina Pipeline Corp. has closed a $225 million (USD) offering of 5.95% fixed-to-fixed rate subordinated notes, due June 6, 2055, the company said.

Proceeds will be used to fund the redemption of its Series 9 Class A Preferred Shares on December 1, 2025, at a price of $25 per share, totaling about $225 million, and for general corporate purposes.

Pembina said the dividend payable on December 1 to holders of the Series 9 shares of record on November 3 will be $0.268875 per share, marking the final quarterly payout before redemption.

The company noted that notice of redemption has been provided to the registered holder of the preferred shares, with Computershare Investor Services Inc. acting as transfer agent.

The subordinated notes were offered through a syndicate co-led by CIBC Capital Markets, BMO Capital Markets, and Scotiabank, under Pembina’s short form base shelf prospectus dated December 13, 2023, and a supplement dated October 8, 2025.