Pembina Pipeline Completes Public Offering of Subscription Receipts

Paul, Weiss advised Pembina Pipeline Corporation in its public offering in the United States and Canada of 29,900,000 subscription receipts, representing gross proceeds of approximately C$1.28 billion. Pembina will use the proceeds from the offering to finance a portion of its C$3.1 billion acquisition of Enbridge Inc.’s interests in certain pipeline assets. Each subscription receipt entitles the holder to receive one common share of Pembina upon the closing of the acquisition. Pembina is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 65 years.

The Paul, Weiss team was led by corporate counsel Christian Kurtz and included corporate partners Christopher Cummings and Adam Givertz; and tax partner Matthew Jordan and counsel Samir Kurani.