PAA Completes Public Offering of $1.0 Billion of Senior Notes

HOUSTON--()--Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it 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.

Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:


Citigroup Global Markets Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (800) 831-9146


Mizuho Securities USA Inc.

320 Park Avenue, 12th Floor

New York, NY 10022

Attention: Debt Capital Markets Desk

Telephone: (866) 271-7403

Mitsubishi UFJ Securities (USA), Inc.
1221 Avenue of the Americas, 6th Floor

New York, NY 10020-1001

Attention: Capital Markets Group

Telephone: (212) 405-7440

        UBS Securities LLC

1285 Avenue of the Americas

New York, NY 10019

Attention: Prospectus Specialist

Telephone: (888) 827-7275

Deutsche Bank Securities Inc.
Attn.: Prospectus Group
60 Wall Street
New York, NY 10005-2836
Telephone: (800) 503-4611


DNB Markets, Inc.
200 Park Avenue, 31st floor
New York, NY 10166
Telephone: (212) 681-3800


The senior notes were 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.

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 state or jurisdiction.

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles approximately 4.3 million barrels per day of crude oil and NGL on its pipelines. PAA is headquartered in Houston, Texas.


Plains All American Pipeline, L.P.
Ryan Smith, 866-809-1291
Director, Investor Relations


Plains All American Pipeline, L.P.
Ryan Smith, 866-809-1291
Director, Investor Relations