Plains All American Pipeline prices $1.25B dual-tranche senior notes offering

PLAINS ALL AMERICAN PIPELINE LP

Issued $700M 4.700% Senior Notes due 2031 and $550M 5.600% Senior Notes due 2036.
Notes mature Jan 15, 2031 and Jan 15, 2036; interest payable Jan 15 and Jul 15 starting Jan 15, 2026.
Notes are senior unsecured, rank equally with existing senior debt and effectively subordinated to secured debt.
Issuers may redeem notes at any time prior to maturity at specified redemption prices.
Offering closed Sep 8, 2025; underwriting agreement with BofA, Barclays, PNC, TD Securities, Wells Fargo.

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