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Plains All American Completes Public Offering of $750 Million of Senior Notes
HOUSTON--(BUSINESS WIRE)-- Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it has completed an underwritten public offering of $750
About this update from Plains All American Pipeline, L.p.
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nPlains All American Pipeline, L.P. (NYSE: PAA) today announced that it has completed an underwritten public offering of $750 million aggregate principal amount of 3.800% senior unsecured notes (the “Notes”) due September 15, 2030 at a public offering price of 99.794% with a yield to maturity of 3.825%.\n\n\nTotal net proceeds of the offering were approximately $741.58 million. PAA intends to use the net proceeds from the offering to partially repay the principal amount of its $600 million 5.00% senior notes due 2021 on or prior to their maturity date in February 2021 and, pending such repayment, for general partnership purposes, which may include, among other things, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital.\n\n\nJ.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc. and RBC Capital Markets, LLC acted as joint book-running managers and representatives of the several underwriters of the offering.\n\n\nCopies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:\n\n\n\n\nJ.P. Morgan Securities LLC\n383 Madison Avenue\nNew York, NY 10179\nAttention: Investment Grade Syndicate Desk, 3rd Floor\nTelephone: (212) 834-4533\n\n\n\nBarclays Capital Inc.\n745 Seventh Avenue\nNew York, NY 10019\nAttention: Syndicate Registration\nTelephone: (888) 603-5847\n\n\n\n\n\nBofA Securities, Inc.\n200 North College Street\nNC1-004-03-43\nCharlotte, NC 28255-0001\nAttention: Prospectus Department\nTelephone: (800) 294-1322\[email protected]\n\n\n\nRBC Capital Markets, LLC\nBrookfield Place\n200 Vesey Street, 8th Floor\nNew York, NY 10281\nAttention: DCM Transaction Management\nTelephone: (866) 375-6829\n\n\n\n\n\nThe Notes were offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission and only by means of a prospectus supplement and accompanying base prospectus.\n\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under...