Plains All American Announces Public Offering of Senior Notes
HOUSTON–(BUSINESS WIRE)–Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it has commenced a public offering of senior notes (the “Notes”). 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.
J.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc. and RBC Capital Markets, LLC will act as joint book-running managers of the offering.
The Notes will be 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. When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:
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J.P. Morgan Securities LLC 383 Madison Avenue New York, NY 10179 Attention: Investment Grade Syndicate Desk, 3rd Floor Telephone: (212) 834-4533 |
Barclays Capital Inc. 745 Seventh Avenue New York, NY 10019 Attention: Syndicate Registration Telephone: (888) 603-5847 |
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BofA Securities, Inc. 200 North College Street NC1-004-03-43 Charlotte, NC 28255-0001 Attention: Prospectus Department Telephone: (800) 294-1322 |
RBC Capital Markets, LLC Brookfield Place 200 Vesey Street, 8th Floor New York, NY 10281 Attention: DCM Transaction Management Telephone: (866) 375-6829 |
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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (“NGL”), and natural gas. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles more than 6 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas.
Contacts
Brett Magill
Director, Investor Relations
(866) 809-1291