Pembina Pipeline Corp. closed its public offering of Class A Series 11 preferred shares for CA$170 million in gross proceeds, the company said Jan. 15.
Proceeds will reduce debts under the credit facilities and support capex and working capital requirements for the 2016 capital program.
The offer was announced Jan. 6, when Pembina entered an agreement with a syndicate of underwriters led by Scotiabank, BMO Capital Markets and RBC Capital Markets. A total of 6.8 million shares, including the 800,000 shares for the partial exercise of the underwriters' option, were sold.
The shares began trading on the Toronto Stock Exchange under the ticker “PPL.PR.K.”
Pembina Pipeline Corp. is based in Calgary, Alberta.
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