Plains All American Pipeline Begins Offering of Two Series of Senior Notes
Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it has commenced a public offering of two series 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.
Wells Fargo Securities, LLC, Barclays Capital Inc., Citigroup Global Markets Inc., SunTrust Robinson Humphrey, Inc. and UBS Securities LLC will act as joint book-running managers of the offering.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.