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CS - Pembina buys Kinder Morgan Canada, US Cochin line for $4.4B - September 2019

Issues $1.5B of senior unsecured notes to repay short-term debt

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Less than four months after Kinder Morgan Canada Ltd. concluded a strategic review with a decision to remain an independent company, the Toronto-listed Kinder Morgan Inc. affiliate agreed on Aug. 21 to an all-stock buyout offer from Pembina Pipeline Corp. valued at $2.31 billion (US$1.74 billion). Pembina will also acquire the US portion of the 110,000 bbl/d Cochin condensate pipeline from KMI for $2.05 billion (US$1.55 billion) cash. KMI owns a 70% voting interest......
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