Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has commenced a public offering of senior notes
(the "Notes"). The Partnership intends to use the net proceeds from this
offering to repay outstanding borrowings under its senior unsecured
revolving credit facility and commercial paper program and for general
partnership purposes. Amounts repaid under the Partnership's senior
unsecured revolving credit facility and commercial paper program may be
reborrowed, as necessary, to fund its ongoing expansion capital program,
future acquisitions and investments or for general partnership purposes.
J.P. Morgan Securities LLC; BNP Paribas Securities Corp.; Merrill Lynch,
Pierce, Fenner & Smith Incorporated; 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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J.P. Morgan Securities LLC
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BNP Paribas Securities Corp.
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383 Madison Avenue
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787 Seventh Avenue
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New York, New York 10179
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New York, New York 10019
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Attention: Investment Grade Syndicate Desk -
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Attention: Syndicate Desk
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3rd floor
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Telephone: 1-800-854-5674
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Telephone: 212-834-4533
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Merrill Lynch, Pierce, Fenner & Smith
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Wells Fargo Securities, LLC
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Incorporated
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608 2nd Avenue South, Suite 1000
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200 North College Street
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Minneapolis, Minnesota 55402
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NC1-004-03-43
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Attention: WFS Customer Service
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Charlotte NC 28255-0001
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Telephone: 1-800-645-3751
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Attention: Prospectus Department
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Email: wfscustomerservice@wellsfargo.com |
Telephone: 1-800-294-1322
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Email: dg.prospectus_requests@baml.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 4.6 million barrels per day of crude oil and NGL in its
Transportation segment. PAA is headquartered in Houston, Texas.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161115006024/en/
Plains All American Pipeline, L.P.
Ryan Smith, (866) 809-1291
Director,
Investor Relations