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Plains All American Pipeline prices $1.5 billion senior notes offering to redeem preferred units.
PUBLIC · PAASep 09, 2026•about 4 hours ago
Amount Raised
$1.5 Billion
Round Type
Debt Financing
CalgaryEnergyOil And Gas
Description
Plains All American Pipeline, L.P. announced the pricing of an underwritten public offering of $1.5 billion in junior subordinated notes, consisting of $700 million in 6.750% Series A Notes due 2056 and $800 million in 7.000% Series B Notes due 2056, both priced at par. The notes are subject to interest rate reset provisions beginning in 2031 and 2036, respectively, and are redeemable by PAA during specified windows. The company intends to use net proceeds, combined with cash on hand and commercial paper borrowings, to redeem all outstanding Series A and Series B Preferred Units
Company Information
Company
Plains All American Pipeline
Location
Calgary, Alberta, Canada
About
Plains All American Pipeline LP is a publicly traded master limited partnership that provides transportation, storage, and logistics services for crude oil and natural gas liquids. They operate an extensive network of pipelines and have a significant presence in North America. The company is involved in the transportation and storage of fuels across various sectors.
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CalgaryEnergyOil And Gas