Deal Description: Plains All American Pipeline, L.P. (NYSE: PAA) commenced and priced a public offering of senior notes (the “Notes”) today. PAA intends to use the net proceeds from the offering to partially repay the principal amounts of its $500 million 2.60% senior notes due 2019 and $500 million 5.75% senior notes due 2020 at their respective maturity dates in December 2019 and January 2020, 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.
Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. are acting as joint book running managers in connection with the offering of the Notes, which is expected to close September 16, 2019. 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.
Counsel to the Underwriters: Baker Botts L.L.P.
Baker Botts Lawyers/Office Involved:
- Corporate: Josh Davidson (Partner; Houston); Jeremy Moore (Partner; Houston); Jennifer Gasser (Associate; Houston); and Parker Hinman (Associate; Houston)
- Tax: T. Chuck Campbell (Special Counsel; Houston)
Contact: Alliccia Hernandez, Manager, Media Relations ([email protected])
For more information, please see Plains All American Pipeline, L.P. news release by clicking here.
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