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:
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Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
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Mizuho Securities USA Inc.
320 Park Avenue, 12th Floor
New York, NY 10022
Attention: Debt Capital Markets Desk
Telephone: (866) 271-7403
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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
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UBS Securities LLC
1285 Avenue of the Americas
New York, NY 10019
Attention: Prospectus Specialist
Telephone: (888) 827-7275
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Deutsche Bank Securities Inc. Attn.: Prospectus Group 60
Wall Street New York, NY 10005-2836 Telephone: (800)
503-4611
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DNB Markets, Inc. 200 Park Avenue, 31st floor New York,
NY 10166 Telephone: (212) 681-3800
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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150824005760/en/
Investors:
Plains All American Pipeline, L.P.
Ryan
Smith, 866-809-1291
Director, Investor Relations