Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has commenced a public offering 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 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. and UBS 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:
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Citigroup Global Markets Inc.
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Mizuho Securities USA Inc.
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c/o Broadridge Financial Solutions
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320 Park Avenue, 12th Floor
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1155 Long Island Avenue
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New York, NY 10022
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Edgewood, NY 11717
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Attention: Debt Capital Markets Desk
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Telephone: (800) 831-9146
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Telephone: (866) 271-7403
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Mitsubishi UFJ Securities (USA), Inc.
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UBS Securities LLC
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1633 Broadway, 29th Floor
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1285 Avenue of the Americas
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New York, NY 10019
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New York, NY 10019
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Attention: Capital Markets Group
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Attention: Prospectus Specialist
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Telephone: (212) 405-7440
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Telephone: (888) 827-7275
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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150817005654/en/
Plains All American Pipeline, L.P.
Ryan Smith, 866-809-1291
Director,
Investor Relations