PAA Announces $1.0 Billion 364-Day Liquidity Facility
January 19 2015 - 11:53AM
Business Wire
Plains All American Pipeline, L.P. (NYSE: PAA) today announced
that it has entered into a new $1.0 billion 364-day credit facility
to provide additional liquidity. The facility closed on January 16,
2015, and pursuant to its terms, PAA has up to 364 days to draw on
the facility and repay any loans thereunder. This facility
increased the Partnership’s committed liquidity on a pro forma
basis from approximately $2.6 billion to $3.6 billion as of
December 31, 2014.
Bank of America, N.A. served as Administrative Agent. Merrill
Lynch, Pierce, Fenner & Smith served as a Joint Lead Arranger,
and was joined by Citigroup Global Markets Inc.; DNB Markets, Inc.;
J.P. Morgan Securities LLC; Mizuho Bank, Ltd.; and Wells Fargo
Securities, LLC as Joint Lead Arrangers.
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"), natural gas and refined products. 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 over 4.0 million
barrels per day of crude oil and NGL on its pipelines. PAA is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P.Ryan Smith, (866)
809-1291Director, Investor Relations
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