Company Website:
http://www.plainsallamerican.com
HOUSTON -- (Business Wire)
Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has completed an underwritten public offering of
$700 million aggregate principal amount of 4.70% senior unsecured notes
due June 15, 2044, at a public offering price of 99.734% with a yield to
maturity of 4.716%.
Total net proceeds of the offering were approximately $690.9 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, future acquisitions or for general
partnership purposes.
Citigroup Global Markets Inc.; SunTrust Robinson Humphrey, Inc.; UBS
Securities LLC; Wells Fargo Securities, LLC; Mitsubishi UFJ Securities
(USA), Inc.; and Scotia Capital (USA) 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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SunTrust Robinson Humphrey, Inc. 3333 Peachtree Road, 11th
Floor Atlanta, GA 30326 Telephone: (800) 685-4786
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UBS Securities LLC 299 Park Avenue New York, NY 10171 Attention:
Prospectus Specialist Telephone: (877) 827-6444, ext. 561-3884
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Wells Fargo Securities, LLC 1525 West W.T. Harris Blvd.,
NC0675 Charlotte, NC 28262 Attention: Capital Markets
Client Support Telephone: (800) 326-5897 Email: cmclientsupport@wellsfargo.com |
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Mitsubishi UFJ Securities (USA), Inc. 1633 Broadway, 29th
Floor New York, NY 10019 Attention: Capital Markets Group Telephone:
(212) 405-7440
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Scotia Capital (USA) Inc. 1 Liberty Plaza, 25th Floor 165
Broadway New York, NY 10006 Attention: Debt Capital
Markets Telephone: (800) 372-3930
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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 over 3.5 million barrels per day of crude oil and NGL on its
pipelines. PAA is headquartered in Houston, Texas.
Contacts:
Plains All American Pipeline, L.P.
Investors:
Ryan
Smith, 866-809-1291
Director, Investor Relations
Source: Plains All American Pipeline, L.P.
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