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PAA Pipeline Raises $600M
Plains All American Pipeline has raised a total of $600 million through a public offering of senior unsecured bonds.
Plains All American Pipeline (PAALP) has raised a total of $600 million through a public offering of senior unsecured bonds. The notes, which carry a coupon rate of 5%, will mature on Feb. 1, 2021.
The company will use the proceeds from the offering to repay outstanding indebtedness under its credit facilities and for general partnership purposes. The joint book-running managers for the sale were JP Morgan Securities, SunTrust Robinson Humphrey, Wells Fargo Securities, Merrill Lynch, Pierce, Fenner & Smith and DnB NOR Markets.
Click here for the release from Market Wire.