{"id":382435,"date":"2020-11-16T20:43:01","date_gmt":"2020-11-17T01:43:01","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382435"},"modified":"2020-11-16T20:43:01","modified_gmt":"2020-11-17T01:43:01","slug":"pembina-pipeline-corporation-announces-conversion-results-for-series-9-preferred-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pembina-pipeline-corporation-announces-conversion-results-for-series-9-preferred-shares\/","title":{"rendered":"Pembina Pipeline Corporation Announces Conversion Results for Series 9 Preferred Shares"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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CALGARY,\u00a0AB, Nov. 16, 2020<\/span> \/PRNewswire\/ –\u00a0<\/b>Pembina Pipeline Corporation\u00a0(“Pembina”) (TSX: PPL) (NYSE: PBA) announced today that none of Pembina’s Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 (“Series 9 Shares”)\u00a0(TSX: PPL.PR.I) will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 10 of Pembina (“Series 10 Shares”) on\u00a0December 1, 2020.<\/p>\n

After taking into account all the conversion notices received from holders of its outstanding Series 9 Shares by the November 16, 2020<\/span> deadline for the conversion of the Series 9 Shares into Series 10 Shares, less than the 1,000,000 Series 9 Shares required to give effect to conversions into Series 10 Shares were tendered for conversion.<\/p>\n

\n About Pembina<\/b>\n <\/p>\n

\n Calgary<\/span>-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America’s<\/span> energy industry for more than 65 years. Pembina owns an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada<\/span>. The Company also owns gas gathering and processing facilities; an oil and natural gas liquids infrastructure and logistics business; is growing an export terminals business; and is currently developing a petrochemical facility to convert propane into polypropylene. Pembina’s integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would extend Pembina’s service offering even further along the hydrocarbon value chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian Sedimentary Basin and the other basins where Pembina operates can reach the highest value markets throughout the world.\u00a0 <\/p>\n

Purpose of\u00a0Pembina:<\/p>\n

To be the leader in delivering integrated infrastructure solutions connecting global markets:<\/p>\n