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Plains All American to price $500 million 10-year bonds Tuesday
By Aleesia Forni
Virginia Beach, Sept. 2 – Plains All American Pipeline, LP and PAA Finance Corp. are in Tuesday’s market with a $500 million offering of senior notes due 2024, according to a market source and a 424B2 filing with the Securities and Exchange Commission.
Proceeds will be used to repay outstanding borrowings under the company’s commercial paper program and for general partnership purposes.
J.P. Morgan Securities LLC, Barclays, BNP Paribas Securities Corp. and BofA Merrill Lynch are the joint bookrunners.
The oil and natural gas transportation, production and storage company is based in Houston.
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