11:24:47 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



PAA Completes Public Offering of $700 Million of Senior Notes

2014-04-23 10:27 ET - News Release


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:

           

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146

SunTrust Robinson Humphrey, Inc.
3333 Peachtree Road, 11th Floor
Atlanta, GA 30326
Telephone: (800) 685-4786

 

UBS Securities LLC
299 Park Avenue
New York, NY 10171
Attention: Prospectus Specialist
Telephone: (877) 827-6444, ext. 561-3884

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

 

Mitsubishi UFJ Securities (USA), Inc.
1633 Broadway, 29th Floor
New York, NY 10019
Attention: Capital Markets Group
Telephone: (212) 405-7440

Scotia Capital (USA) Inc.
1 Liberty Plaza, 25th Floor
165 Broadway
New York, NY 10006
Attention: Debt Capital Markets
Telephone: (800) 372-3930

 

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.

© 2024 Canjex Publishing Ltd. All rights reserved.