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Plains All American Announces Pricing of Public Offering of $650 Million of Senior Notes
HOUSTON, June 17, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it and PAA Finance Corp., a wholly-owned
About this update from Plains Gp Holdings, L.p.
[{"type":"text","content":"HOUSTON, June 17, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it and PAA Finance Corp., a wholly-owned subsidiary of PAA, as co-issuer, have priced an underwritten public offering (the “Offering”) of $650 million aggregate principal amount of 5.700% senior unsecured notes (the “Notes”) due 2034 at a price to the public of 99.953% of their face value. The Offering is expected to close on June 27, 2024, subject to the satisfaction of customary closing conditions. PAA intends to use the net proceeds of approximately $643.3 million from the Offering to repay a portion of the $750 million outstanding principal amount of its 3.60% senior notes due 2024, together with any accrued and unpaid interest, on or prior to their maturity date in November 2024, and, pending such repayment, for general partnership purposes, which may include, among other things, intra-group lending and related transactions, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital. Citigroup Global Markets Inc., MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are acting as joint book-running managers for the offering. The Offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission and may only be made by means of a base prospectus and accompanying prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, copies of which may be obtained from the underwriters as follows: Citigroup Global Markets Inc.388 Greenwich StreetNew York, NY 10013Telephone: 1-800-831-9146MUFG Securities Americas Inc.1221 Avenue of the Americas, 6th FloorNew York, New York 10020Attention: Capital Markets GroupTelephone: 1-877-649-6848SMBC Nikko Securities America, Inc.277 Park AvenueNew York, New York 10172Attention: Debt Capital MarketsTelephone: 1-888-868-6856Truist Securities, Inc.3333 Peachtree Road NE, 11th FloorAtlanta, Georgia 30326Attention: Investment Grade Debt Capital MarketsTelephone: 1-800-685-4786 This 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 o...