Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has commenced a public offering of two series of
senior notes (the "Notes"). The Partnership intends to use the net
proceeds from this offering to repay outstanding borrowings under its
commercial paper program (a portion of which was used to fund the
BridgeTex acquisition completed on November 14, 2014) 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 or future acquisitions, or for general
partnership purposes.
Barclays Capital Inc.; SunTrust Robinson Humphrey, Inc.; and Wells Fargo
Securities, 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:
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Barclays Capital Inc. c/o Broadridge Financial Solutions 1155
Long Island Avenue Edgewood, NY 11717 Telephone: (888)
603-5847 Email: Barclaysprospectus@broadridge.com | | |
SunTrust Robinson Humphrey, Inc. 3333 Peachtree Road, 11th
Floor Atlanta, GA 30326 Telephone: (800) 685-4786
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Wells Fargo Securities, LLC 608 2nd Avenue South
Minneapolis, MN 55402 Attention: WFS Customer Service Telephone:
(800) 645-3751 Email: wfscustomerservice@wellsfargo.com | | | |
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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 3.9 million barrels per day of crude oil and NGL on its
pipelines. PAA is headquartered in Houston, Texas.
Investors:
Plains All American Pipeline, L.P.
Ryan
Smith, (866) 809-1291
Director, Investor Relations