PAA Completes Public Offering of $1.0 Billion of Senior Notes
August 24 2015 - 12:11PM
Business Wire
Plains All American Pipeline, L.P. (NYSE: PAA) today announced
that it has completed an underwritten public offering of $1.0
billion aggregate principal amount of 4.65% senior unsecured notes
due October 15, 2025, at a public offering price of 99.846% of the
face amount of the notes with a yield to maturity of 4.668%.
Total net proceeds of the offering were approximately $990.5
million. The Partnership intends to use the net proceeds from this
offering to repay outstanding borrowings under its commercial paper
program 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 and investments, or for general partnership
purposes.
Citigroup Global Markets Inc.; Mizuho Securities USA Inc.;
Mitsubishi UFJ Securities (USA), Inc.; UBS Securities LLC; Deutsche
Bank Securities Inc.; and DNB Markets, Inc. acted as joint
book-running managers of the offering.
Copies of the prospectus supplement and accompanying base
prospectus relating to the offering may be obtained from the
underwriters as follows:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
Mizuho Securities USA Inc.
320 Park Avenue, 12th Floor
New York, NY 10022
Attention: Debt Capital Markets Desk
Telephone: (866) 271-7403
Mitsubishi UFJ Securities (USA), Inc.1221 Avenue of the Americas,
6th Floor
New York, NY 10020-1001
Attention: Capital Markets Group
Telephone: (212) 405-7440
UBS Securities LLC
1285 Avenue of the Americas
New York, NY 10019
Attention: Prospectus Specialist
Telephone: (888) 827-7275
Deutsche Bank Securities Inc.Attn.:
Prospectus Group60 Wall StreetNew York, NY 10005-2836Telephone:
(800) 503-4611
DNB Markets, Inc.200 Park Avenue, 31st
floorNew York, NY 10166Telephone: (212) 681-3800
The senior 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.
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 approximately 4.3
million barrels per day of crude oil and NGL on its pipelines. PAA
is headquartered in Houston, Texas.
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version on businesswire.com: http://www.businesswire.com/news/home/20150824005760/en/
Investors:Plains All American Pipeline, L.P.Ryan Smith,
866-809-1291Director, Investor Relations
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