PLAINS GP HOLDINGS LP (PAGP): debt financing — Plains All American Pipeline issues $1.25B in two-tranche senior notes (4.70% due 2031, 5.60% due 2036)

PLAINS GP HOLDINGS LP

$700M 4.700% Senior Notes due 2031 and $550M 5.600% Senior Notes due 2036 issued by PAA and PAA Finance Corp.
Interest payable Jan 15 and Jul 15 starting Jan 15, 2026; notes redeemable prior to maturity at specified prices.
Notes are senior unsecured obligations of PAA, ranking equally with all existing and future senior debt.
Underwriters include BofA Securities, Barclays, PNC Capital Markets, TD Securities, and Wells Fargo Securities.
Offering completed under PAA's shelf registration statement (Form S-3) filed Sep 6, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

PLAINS GP HOLDINGS LP incurred senior notes of $1,250,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 4.700% Senior Notes due 2031 and 5.600% Senior Notes due 2036 maturing January 15, 2031 for the 2031 Notes and January 15, 2036 for the 2036 Notes.

Instrument: senior notes
Principal: $1,250,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.700% Senior Notes due 2031 and 5.600% Senior Notes due 2036
Maturity: January 15, 2031 for the 2031 Notes and January 15, 2036 for the 2036 Notes
Event: incurrence

Exact text from the filing

On September 8, 2025, the registrant’s consolidated subsidiaries, Plains All American Pipeline, L.P. (“PAA”) and PAA Finance Corp. (together with PAA, the “Issuers”) completed the public offering (the “Offering”) of $1.25 billion aggregate principal amount of the Issuers’ debt securities, consisting of $700,000,000 aggregate principal amount of 4.700% Senior Notes due 2031 (the “2031 Notes”) and $550,000,000 aggregate principal amount of 5.600% Senior Notes due 2036 (the “2036 Notes,” and, together with the 2031 Notes, the “Notes”).

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Source: SEC EDGAR

accession 0001104659-25-088308

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