Pembina Pipeline Corporation Announces Settlement Agreement with Ruby Pipeline LLC
The terms of the Settlement Agreement provide for, upon approval of the
The Plan provides for the potential sale by auction of Ruby's assets with a distribution of the value of the Ruby estate to its creditors following confirmation of the Plan. In the event the Plan is approved as currently contemplated, Pembina's affiliates retain all rights to recovery under the 2026 Subordinated Notes (the "Sub Notes") as a creditor, subject to the terms of the Plan and the Sub Notes, after accounting for any rights of subordination in favour of other creditors.
Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the
This news release contains certain forward-looking statements and information (collectively, "forward-looking statements" within the meaning of the "safe harbor" provisions of applicable securities legislation that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "should", "may", "intend", "will", "continue", "if", "to be", "expects", and similar expressions suggesting future events or future performance.
In particular, this news release contains forward-looking statements relating to, without limitation, the approval by the United States Bankruptcy Court for the District of
The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: that the Plan and/or the Settlement Agreement will be approved on terms similar to those currently contemplated; the success of Pembina's operations; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Management's Discussion and Analysis and Annual Information Form for the year ended
Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: that the Plan may not be approved on terms currently contemplated or at all; that the
This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this news release speak only as of the date hereof. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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