PAA Announces Public Offering of Senior Notes

PAA Announces Public Offering of Senior Notes

HOUSTON--(BUSINESS WIRE)-- 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 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.

J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; DNB Markets, Inc.; and Mizuho Securities USA Inc. 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:

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.

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. (NYS: PNG) , PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.

Plains All American Pipeline, L.P.
Investors:
Roy I. Lamoreaux, 713/646-4222 - 800/564-3036
Director, Investor Relations

KEYWORDS: United States North America Canada Texas

INDUSTRY KEYWORDS:

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