Pembina Pipeline Corp 6-K, filed Jan 11, 2021

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANTTO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2021

Commission File Number:  001-35563

PEMBINA PIPELINE CORPORATION

(Name of registrant)

(Room #39-095) 4000, 585 8^th^ Avenue S.W.

Calgary, Alberta T2P 1G1

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Form6-K Exhibit Index

Exhibit 99.1

Pembina Pipeline Corporation Announces Consideration of Hybrid Subordinated Debt Securities Offering

CALGARY, AB, Jan. 11, 2021 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL); (NYSE: PBA) announced today that it is considering an offering of hybrid subordinated debt securities under its short form base shelf prospectus dated December 30, 2020.

If a successful offering is priced and completed, the Company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable minimum rate reset Class A Preferred Shares, Series 11 (TSX: PPL.PR.K) and its cumulative redeemable minimum rate reset Class A Preferred Shares, Series 13 (TSX: PPL.PR.M), to repay other outstanding indebtedness, as well as for general corporate purposes. There is no certainty that Pembina will ultimately complete the offering being considered or as to the timing or terms on which such an offering might be completed.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the hybrid subordinated debt securities in any jurisdiction. The hybrid subordinated debt securities considered to be offered have not been approved or disapproved by any regulatory authority. The hybrid subordinated debt securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States.

About Pembina

Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America's energy industry for more than 65 years. Pembina owns an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada. The Company also owns gas gathering and processing facilities; an oil and natural gas liquids infrastructure and logistics business; is growing an export terminals business; and is currently evaluating a petrochemical facility to convert propane into polypropylene. Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to identifying additional opportunities to connect hydrocarbon production to new demand locations through the development of infrastructure that would extend Pembina's service offering even further along the hydrocarbon value chain. These new developments will contribute to ensuring that hydrocarbons produced in the Western Canadian Sedimentary Basin and the other basins where Pembina operates can reach the highest value markets throughout the world.

Purpose of Pembina:

To be the leader in delivering integrated infrastructure solutions connecting global markets:

• Customers choose us first for reliable and value-added services;
• Investors receive sustainable industry-leading total returns;
• Employees say we are the 'employer of choice' and value our safe, respectful, collaborative and fair work culture; and
• Communities welcome us and recognize the net positive impact of our social and environmental commitment.

Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division.

Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com.

Forward-Looking Information and StatementsThis document 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 currentexpectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In somecases, forward-looking statements can be identified by terminology such as "intend", "will", "shall",and similar expressions suggesting future events or future performance.

In particular, this news release containsforward-looking statements relating to Pembina's consideration of an offering of hybrid subordinated debt securities and the useof the net proceeds from any successful offering of hybrid subordinated debt securities. These forward-looking statements are basedon certain assumptions that Pembina has made in respect thereof as at the date of this news release, including: prevailing commodityprices, margins and exchange rates, that Pembina's businesses will continue to achieve sustainable financial results and that futureresults of operations will be consistent with past performance and management expectations in relation thereto, the availabilityand sources of capital, operating costs, ongoing utilization and future expansions, the ability to reach required commercial agreements,and the ability to obtain required regulatory approvals. These forward-looking statements are not guarantees of future performanceand are subject to a number of known and unknown risks and uncertainties, including, but not limited to: non-performance of agreementsin accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances andagreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuationor completion of third-party projects; regulatory environment and inability to obtain required regulatory approvals; tax laws andtreatment; fluctuations in operating results; the ability of Pembina to raise sufficient capital to complete future projects andsatisfy future commitments; construction delays; labour and material shortages; risks relating to widespread epidemics or pandemicoutbreaks, including the COVID-19 pandemic; general economic, market and business conditions; and the behaviour of financial markets,including fluctuations in interest and exchange rates, the pricing of comparable securities and Pembina's credit ratings; and certainother risks detailed from time to time in Pembina's public disclosure documents including, among others, those detailed under theheading "Risk Factors" in Pembina's management's discussion and analysis and annual information form, each for the yearended December 31, 2019, and in Pembina's management's discussion and analysis for the three and nine months ended September 30,2020, all which can be found at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov andavailable on Pembina's website at www.pembina.com.

Accordingly, readers are cautioned thatevents or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-lookingstatements are expressly qualified by the above statements. Pembina does not undertake any obligation to publicly update or reviseany forward-looking statements or information contained herein, except as required by applicable laws.

View original content:http://www.prnewswire.com/news-releases/pembina-pipeline-corporation-announces-consideration-of-hybrid-subordinated-debt-securities-offering-301205270.html

SOURCE Pembina Pipeline Corporation

View original content: http://www.newswire.ca/en/releases/archive/January2021/11/c1776.html

%CIK: 0001546066

For further information: Investor Relations, Scott Arnold, (403) 231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com

CO: Pembina Pipeline Corporation

CNW 08:48e 11-JAN-21