Despite the hot equity market, there have been few substantial bought deals (excluding preferred shares). But the drought finally ended Monday afternoon.
After the markets closed Pembina Pipeline Corp. launched a $250-million bought offering of 10-year convertible debentures that pay 5.75 per cent annually. Proceeds will be used to pay off existing credit facilities and free up the borrowing capacity used to fund capital expenditures.
Scotia Capital is the lead underwriter.