Plains All American Pipeline LP completed an underwritten public offering of $750 million aggregate principal amount of 3.6% senior unsecured notes due Nov. 1, 2024 at a public offering price of 99.842% with a yield to maturity of 3.618%, the company announced Sept. 9.
Total net proceeds from the offering were about $742.7 million. Plains All American plans to use net proceeds from the offering to repay outstanding borrowings under its commercial paper program and for general purposes.
J.P. Morgan Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Merril Lynch, Pierce, Fenner & Smith Inc., DNB Markets Inc. and Mizuho Securities USA Inc. acted as joint book-running managers of the offering.
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