The announcement of a public note offering indicates Pembina Pipeline Corp. is seeking to raise capital, which could be used for various corporate purposes such as refinancing existing debt, funding capital expenditures, or for general corporate purposes. The impact on the stock price is neutral in the short term as the offering is a financial activity that does not directly reflect on the company's current operations or profitability. However, the importance is relatively high as it pertains to the company's capital structure and financial strategy.