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Jun 08, 2020
Plains All American Announces Public Offering of Senior Notes

HOUSTON - Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it has commenced a public offering of senior notes (the "Notes"). PAA intends to use the net proceeds from the offering to partially repay the principal amount of its $600 million 5.00% senior notes due 2021 on or prior to their maturity date in February 2021 and, pending such repayment, for general partnership purposes, which may include, among other things, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital.

J.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc. and RBC Capital Markets, 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:

J.P. Morgan Securities LLC

383 Madison Avenue

New York, NY 10179

Attention: Investment Grade Syndicate Desk, 3rd Floor

Telephone: (212) 834-4533

Barclays Capital Inc.

745 Seventh Avenue

New York, NY 10019

Attention: Syndicate Registration

Telephone: (888) 603-5847

BofA Securities, Inc.

200 North College Street


Charlotte, NC 28255-0001

Attention: Prospectus Department

Telephone: (800) 294-1322

RBC Capital Markets, LLC

Brookfield Place

200 Vesey Street, 8th Floor

New York, NY 10281

Attention: DCM Transaction Management

Telephone: (866) 375-6829

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"), and natural gas. 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 more than 6 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas.

Brett Magill
Director, Investor Relations
(866) 809-1291

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