PAA Announces Public Offering of Senior Notes
December 02 2014 - 9:06AM
Business Wire
Plains All American Pipeline, L.P. (NYSE: PAA) today announced
that it has commenced a public offering of two series of senior
notes (the "Notes"). The Partnership intends to use the net
proceeds from this offering to repay outstanding borrowings under
its commercial paper program (a portion of which was used to fund
the BridgeTex acquisition completed on November 14, 2014) and for
general partnership purposes. Amounts repaid under the
Partnership’s commercial paper program may be reborrowed, as
necessary, to fund its ongoing expansion capital program or future
acquisitions, or for general partnership purposes.
Barclays Capital Inc.; SunTrust Robinson Humphrey, Inc.; and
Wells Fargo Securities, 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:
Barclays Capital Inc.c/o Broadridge
Financial Solutions1155 Long Island AvenueEdgewood, NY
11717Telephone: (888) 603-5847Email:
Barclaysprospectus@broadridge.com
SunTrust Robinson Humphrey, Inc.3333
Peachtree Road, 11th FloorAtlanta, GA 30326Telephone: (800)
685-4786
Wells Fargo Securities, LLC608 2nd
AvenueSouth Minneapolis, MN 55402Attention: WFS Customer
ServiceTelephone: (800) 645-3751Email:
wfscustomerservice@wellsfargo.com
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"), 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 3.9 million
barrels per day of crude oil and NGL on its pipelines. PAA is
headquartered in Houston, Texas.
Investors:Plains All American Pipeline, L.P.Ryan Smith,
(866) 809-1291Director, Investor Relations
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