Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Plains All American Wraps Up $990.5MM Note Offering
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Plains All American Pipeline, L.P. has completed an underwritten public offering of $1.0 billion aggregate principal amount of 4.65% senior unsecured notes due October 15, 2025, at a public offering price of 99.846% of the face amount of the notes with a yield to maturity of 4.668%.
Total net proceeds of the offering were approximately $990.5 million. The Partnership intends to use the net proceeds from this offering to repay outstanding borrowings under its commercial paper program 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 and investments, or for general partnership purposes.
Citigroup Global Markets Inc.; Mizuho Securities USA Inc.; Mitsubishi UFJ Securities (USA), Inc.; UBS Securities LLC; Deutsche Bank Securities Inc.; and DNB Markets, Inc. acted as joint book-running managers of the offering.
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