PAA Completes Public Offering of $750 Million of Senior Notes
November 22 2016 - 12:01PM
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 4.500% senior unsecured notes
due December 15, 2026, at a public offering price of 99.716% with a
yield to maturity of 4.535%.
Total net proceeds of the offering were approximately $741.3
million. The Partnership intends to use the net proceeds from this
offering to repay outstanding borrowings under its senior unsecured
revolving credit facility and commercial paper program and for
general partnership purposes. Amounts repaid under the
Partnership's senior unsecured revolving credit facility and
commercial paper program may be reborrowed, as necessary, to fund
its ongoing expansion capital program, future acquisitions and
investments or for general partnership purposes.
J.P. Morgan Securities LLC; BNP Paribas Securities Corp.;
Merrill Lynch, Pierce, Fenner & Smith Incorporated; Wells
Fargo Securities, LLC; BBVA Securities Inc.; DNB Markets,
Inc.; and SMBC Nikko Securities America, 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 LLC
383 Madison Avenue
New York, New York 10179
Attention: Investment Grade Syndicate Desk
- 3rd floor
Telephone: 212-834-4533
BNP Paribas Securities Corp.
787 Seventh Avenue
New York, New York 10019
Attention: Syndicate Desk
Telephone: 1-800-854-5674
Merrill Lynch, Pierce, Fenner &
Smith
Incorporated
200 North College Street
NC1-004-03-43
Charlotte NC 28255-0001
Attention: Prospectus Department
Telephone: 1-800-294-1322
Email: dg.prospectus_requests@baml.com
Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, Minnesota 55402
Attention: WFS Customer Service
Telephone: 1-800-645-3751
Email:
wfscustomerservice@wellsfargo.com
BBVA Securities Inc.
1345 Avenue of the Americas
44th Floor
New York, New York 10105
Telephone: 1-800-422-8692
DNB Markets, Inc.
200 Park Avenue, 31st floor
New York, NY 10166
Telephone: (212) 681-3800
SMBC Nikko Securities America, Inc.
277 Park Avenue
New York, New York 10172
Telephone: 1-888-868-6856
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 4.6 million
barrels per day of crude oil and NGL in its Transportation segment.
PAA is headquartered in Houston, Texas.
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version on businesswire.com: http://www.businesswire.com/news/home/20161122005845/en/
Plains All American Pipeline, L.P.Ryan Smith,
866-809-1291Director, Investor Relations
Plains All American Pipe... (NYSE:PAA)
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