UPDATE 1-Pembina secures C$267 mln debt financing

* Enters into agreement with investor group

* Proceeds to repay debt, corp purposes

* Offering expected to close on or about Nov 18

Oct 27 (Reuters) - Pembina Pipeline Income Fund (PIF_u.TO) on Tuesday said its unit entered into an agreement with a group of institutional investors for a C$267 Million private placement of notes.

The Fund said net proceeds will be used to repay existing bank debt and for general corporate purposes.

Pembina said it expects the notes to be issued in a single tranche on November 18, 2019, with a 10-year maturity and at a fixed interest rate of 5.91 percent.

Capital expenditures totaling an estimated $440 million are forecast over the next two years when major development projects such as the planned Nipisi and Mitsue Pipelines are completed, the company said in a statement.

Pembina's units were trading up 13 Canadian cents at C$16.04 on the Toronto Stock Exchange. (Reporting by Chakradhar Adusumilli in Bangalore; Editing by Vikram S Subhedar)