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 credit facilities and for general
partnership purposes. Amounts repaid under the Partnership's credit
facilities may be reborrowed as necessary, to fund its ongoing expansion
capital program, future acquisitions, or for general partnership
purposes.
Wells Fargo Securities, LLC, Barclays Capital Inc., Citigroup Global
Markets Inc., SunTrust Robinson Humphrey, Inc. and UBS Securities LLC
will act as joint book-running managers of the offering.
The senior 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:
Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd., NC0675
Charlotte, North Carolina 28262
Attn: Capital Markets Client Support
Telephone: 1-800-326-5897
cmclientsupport@wellsfargo.com |
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Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-888-603-5847
barclaysprospectus@broadridge.com |
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Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
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SunTrust Robinson Humphrey, Inc.
3333 Peachtree Road, 11th Floor
Mail Code: GA-ATLANTA-3947
Atlanta, GA 30326
Attn: Investment Grade Debt Capital Markets
Telephone: 1-800-685-4786
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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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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 jurisdiction.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that
involve certain risks and uncertainties. These risks and uncertainties
include, among other things, the stability of the capital markets and
other factors and uncertainties inherent in the marketing,
transportation, terminalling, gathering and storage of crude oil and
other petroleum-related products discussed in the Partnership's filings
with the Securities and Exchange Commission.
Plains All American Pipeline, L.P. is a publicly traded master
limited partnership engaged in the transportation, storage, terminalling
and marketing of crude oil and refined products, as well as in the
processing, transportation, fractionation, storage and marketing of
natural gas liquids. Through its general partner interest and majority
equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG),
PAA owns and operates natural gas storage facilities. PAA is
headquartered in Houston, Texas.
Plains All American Pipeline, L.P.
Roy I. Lamoreaux, 713-646-4222 –
800-564-3036
Director, Investor Relations
