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 credit facilities and
for general partnership purposes. Amounts repaid under the Partnership's
credit facilities may be reborrowed as necessary, to fund its ongoing
expansion capital program, future acquisitions, or for general
partnership purposes.
J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith
Incorporated; DNB Markets, Inc.; and Mizuho Securities USA Inc. 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:
J.P. Morgan Securities LLC
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Merrill Lynch, Pierce, Fenner & Smith Incorporated
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383 Madison Avenue
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222 Broadway, 11th Floor
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New York, New York 10179
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New York, New York 10038
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Attention: Investment Grade Syndicate Desk – 3rd Floor
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Attention: Prospectus Department
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Phone: (212) 834-4533
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Phone: (800) 294-1322
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E-mail: dg.prospectus_requests@baml.com |
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DNB Markets, Inc.
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Mizuho Securities USA Inc.
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200 Park Avenue, 31st Floor
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320 Park Avenue, 12th Floor
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New York, New York 10166
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New York, NY 10022
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Attention: Debt Capital Markets
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Attention: Debt Capital Markets Desk
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Phone: (212) 681-3800
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Phone: (866) 271-7403
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Facsimile: (212) 205-7812
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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 jurisdiction.
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and
marketing of crude oil and refined products, as well as in the
processing, transportation, fractionation, storage and marketing of
natural gas liquids. Through its general partner interest and majority
equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG),
PAA owns and operates natural gas storage facilities. PAA is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P.
Investors:
Roy I.
Lamoreaux, 713/646-4222 – 800/564-3036
Director, Investor Relations