PAA Completes Public Offering of $750 Million of Senior Notes
September 09 2014 - 11:47AM
Business Wire
Plains All American Pipeline, L.P. (NYSE:PAA) today announced
that it has completed an underwritten public offering of $750
million aggregate principal amount of 3.60% senior unsecured notes
due November 1, 2024, at a public offering price of 99.842% with a
yield to maturity of 3.618%.
Total net proceeds of the offering were approximately $742.7
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, or for general partnership purposes.
J.P. Morgan Securities LLC; Barclays Capital Inc.; BNP Paribas
Securities Corp.; Merrill Lynch, Pierce, Fenner & Smith
Incorporated; DNB Markets, Inc.; and Mizuho Securities USA 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:
J.P. Morgan Securities LLC383 Madison
AvenueNew York, New York 10179Attention: Investment Grade Syndicate
Desk – 3rd FloorTelephone: (212) 834-4533
BNP Paribas Securities Corp.Debt Syndicate
Desk787 Seventh AvenueNew York, New York 10019Telephone: (800)
854-5674Email: new.york.syndicate@bnpparibas.com
Barclays Capital Inc.c/o Broadridge
Integrated Distribution Services1155 Long Island AvenueEdgewood, NY
11717Telephone: (888) 603-5847Email:
Barclaysprospectus@broadridge.com
Merrill Lynch, Pierce, Fenner & Smith
IncorporatedAttn: Prospectus Department222 Broadway, 11th FloorNew
York, NY 10038Telephone: (800) 294-1322
Email: dg.prospectus_requests@baml.com
DNB Markets, Inc.200 Park Avenue, 31st
FloorNew York, NY 10166Attention: Debt Capital MarketsTelephone:
(212) 681-3800
Mizuho Securities USA Inc.320 Park Avenue,
12th FloorNew York, NY 10022Attention: Debt Capital Markets
DeskTelephone: (212) 205-7543Facsimile: (212) 205-7812
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 over 3.5 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
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Apr 2023 to Apr 2024