Plains All American Pipeline Prices $750M Debt Securities, Including $300M Senior Notes Due 2031, $450M Senior Notes Due 2036

Author: Benzinga Newsdesk | November 10, 2025 04:52pm

Plains All American Pipeline, L.P. (Nasdaq: PAA) today announced that it and PAA Finance Corp., a wholly owned subsidiary of PAA, as co-issuer, have priced an underwritten public offering (the "Offering") of $750 million aggregate principal amount of debt securities, consisting of $300 million aggregate principal amount of the issuers' 4.70% Senior Notes due 2031 (the "2031 Notes") and $450 million aggregate principal amount of 5.60% senior unsecured notes due 2036 (the "2036 Notes"), at a price to the public of 99.872% and 100.518% of their face value, respectively. The notes are being offered as additional issuances of the issuers' 4.70% Senior Notes due 2031 and 5.60% Senior Notes due 2036, respectively, of which $700 million and $550 million aggregate principal amount, respectively, were issued on September 8, 2025. The Offering is expected to close on November 14, 2025, subject to the satisfaction of customary closing conditions.

PAA intends to use the net proceeds, after the underwriter discounts and our expenses and excluding accrued interest, of approximately $747.2 million from the Offering for general partnership purposes, which may include, among other things, repayment of indebtedness, intra-group lending and related transactions, capital expenditures and additions to working capital.

Posted In: PAA