CALGARY, AB, November 10, 2021 / PRNewswire / – Alliance Pipeline Limited Partnership (“Alliance Canada“) and Alliance Pipeline LP (“United States Alliance” and with Alliance Canada, “Alliance“) today announced their intention to repurchase all Alliance Canada 7.181% Senior Secured Notes Series A Issued and Outstanding at Maturity June 30, 2023 (the “7.181% Notes“), 5.546% Senior Secured Notes Series A due December 31, 2023 (the “5.546% Notes“), 7.217% Senior Secured Notes Series A due December 31, 2025 (the “7.217% Remarks“) and 6.765% of the Series A Senior Secured Notes due December 31, 2025 (the “6.765% Notes“and with the 7.181% Notes, the 5.546% Notes and the 7.217% Notes, the”Alliance Canada Notes“) and all of the issued and outstanding 7.877% senior notes of Alliance US maturing December 31, 2025 (the “7.877% Notes“) and 4.591% of the Senior Bonds due December 31, 2025 (the “4.591% Notes“and with the 7.877% banknotes, the”United States Alliance Remarks“) (collectively, the”Redemptions“). Alliance will complete redemptions on December 10, 2021 (the “Repayment date“). At the date hereof, $ 119,223,900 total principal amount of 7.181% Notes, $ 16,002,000 total principal amount of 5.546% Notes, $ 108,289,300 total principal amount of 7.217% Notes, $ 123,740,000 total principal amount of 6.765% Notes, United States$ 138,000,000 total principal amount of 7.877% Notes and US$ 37,021,200 total principal amount of 4.591% The Notes are issued and in circulation.
Each series of Alliance Canada Notes will be redeemed on the Redemption Date at a Redemption Price equal to the greater of (i) par and (ii) such price which provides a yield to maturity equal to the yield at maturity. government deadline Canada bond whose term to maturity is equal to the remaining term of the applicable series plus the applicable spread, as well as, in both cases, accrued and unpaid interest up to, but excluding, the due date. redemption. Each Series of Alliance US Notes will be redeemed on the Redemption Date for a redemption price equal to the greater of (i) par and (ii) that price which provides a yield to maturity equal to the yield to maturity. applicable US Treasury instrument with a term to maturity equal to the remaining term of the applicable series plus the applicable spread, together, in both cases, with accrued and unpaid interest up to, but excluding, the date of redemption.
About the Alliance Pipeline Network
The Alliance Pipeline System consists of an integrated network of Canadian and US natural gas transmission pipelines of approximately 3,849 kilometers, which delivers rich natural gas from the Western Canada Sedimentary Basin and the Williston Basin at the Chicago market hub. United States part of the system consists of approximately 1,556 kilometers of infrastructure, including the 129-kilometer Tioga Lateral to North Dakota. The Alliance The system provides, on average, about 45.3 million standard cubic meters (or 1.6 billion standard cubic feet) of natural gas per day. More information on Alliance is available at www.alliancepipeline.com.
Alliance Canada owns the Canadian portion of the Alliance pipeline system. Alliance US owns the US portion of Alliance’s pipeline system. The two Alliance Canada and Alliance US are each 50 percent owned by affiliates of Enbridge Inc. (TSX: ENB; NYSE: ENB) and Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA).
This press release contains certain forward-looking information and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “would”, “should” or other words. similar). More specifically and without limitation, this press release contains forward-looking statements and information (collectively, “forward-looking statements”) relating to the timing and completion of the redemptions. The forward-looking statements contained in this document are intended to provide Alliance security holders and potential investors with information about Alliance and its subsidiaries and related companies. All forward-looking statements reflect alliances beliefs and assumptions based on information available at the time the forward-looking statements were made. Readers are cautioned not to place undue reliance on these forward-looking statements. Alliance assumes no obligation to update or revise any forward-looking information, except as required by law. For more information on the assumptions made and the risks and uncertainties that could cause actual results to differ from expected results, refer to alliances Annual Information Form and Management Report for the Year Ended December 31, 2020 under alliances profile on SEDAR at www.sedar.com.
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SOURCE Alliance Pipeline Ltd.