Plains GP Holdings, L.P. Launches Initial Public Offering

Plains GP Holdings, L.P. Launches Initial Public Offering

HOUSTON--(BUSINESS WIRE)-- Plains GP Holdings, L.P. ( the "Partnership") today announced the commencement of its initial public offering of 128,000,000 Class A shares representing limited partner interests, at an anticipated initial public offering price of between $22.00 and $25.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Partnership expects to grant the underwriters a 30-day option to purchase up to an additional 19,200,000 Class A shares. The Partnership has been approved to list its Class A shares on the New York Stock Exchange (NYSE) under the symbol "PAGP," subject to official notice of issuance.

Barclays, Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lynch, Citigroup, UBS Investment Bank and Wells Fargo Securities will act as joint book-running managers of the offering.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This offering will be made only by means of a written prospectus. A copy of the preliminary prospectus for the offering may be obtained, when available, from:

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there by 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.

As of the closing of the offering, the Partnership will own a limited partner interest in Plains AAP, L.P., which currently owns all of the incentive distribution rights and an indirect 2% general partner interest in Plains All American Pipeline, L.P. ("PAA"). PAA 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., PAA owns and operates natural gas storage facilities. The Partnership is headquartered in Houston, Texas.

Plains GP Holdings, L.P.
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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