4.70% Senior Notes due 2031
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Plains All American Announces Pricing of Public Offering of $750 Million of Senior Notes
Globenewswireยท 2025-11-10 21:46
Core Viewpoint - Plains All American Pipeline, L.P. has announced a public offering of $750 million in debt securities, which includes two types of senior notes with different maturities and interest rates [1] Group 1: Offering Details - The offering consists of $300 million of 4.70% Senior Notes due 2031 and $450 million of 5.60% Senior Unsecured Notes due 2036, priced at 99.872% and 100.518% of their face value respectively [1] - This offering is an additional issuance of previously issued notes, with $700 million of the 2031 Notes and $550 million of the 2036 Notes issued on September 8, 2025 [1] - The expected closing date for the offering is November 14, 2025, pending customary closing conditions [1] Group 2: Use of Proceeds - The net proceeds from the offering, estimated at approximately $747.2 million, will be used for general partnership purposes, including repayment of debt, intra-group lending, capital expenditures, and working capital [2] Group 3: Company Overview - Plains All American Pipeline is a publicly traded master limited partnership that operates midstream energy infrastructure and logistics services for crude oil and natural gas liquids [6] - The company manages an extensive network of pipeline systems and related infrastructure, handling over 9 million barrels per day of crude oil and NGL on average [6] - The company is headquartered in Houston, Texas [7]