PLAINS GP HOLDINGS LP (PAGP): debt financing — Plains GP subsidiary PAA enters new $2.7B unsecured revolver maturing 2031

PLAINS GP HOLDINGS LP

New $2.7B revolving credit facility replaces prior $2.7B revolver and Hedged Inventory Facility.
Maturity June 12, 2031; one-year extension option subject to lender approval.
Interest based on Term SOFR, Base Rate, Canadian Term Rate, or Canadian Prime Rate plus margin tied to credit ratings.
Financial covenant: Consolidated Funded Indebtedness to EBITDA ≤ 5.00x (5.50x during acquisition period).
Committed capacity can be increased to $4.0B at PAA's option, subject to additional lender commitments.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PLAINS GP HOLDINGS LP incurred revolving credit of $2.7 billion with Bank of America, N.A. at Term SOFR, the Base Rate, the Canadian Term Rate or the Canadian Prime Rate, in maturing June 12, 2031.

Instrument: revolving credit
Principal: $2.7 billion
Counterparty: Bank of America, N.A.
Rate: Term SOFR, the Base Rate, the Canadian Term Rate or the Canadian Prime Rate, in
Maturity: June 12, 2031
Event: incurrence

Exact text from the filing

as L/C Issuers; and the other Lenders party thereto (as amended, the “Hedged Inventory Facility”). The committed borrowing capacity under the Revolving Credit Agreement is $2.7 billion, up to $800 million of which is available for the issuance of letters of credit and up to $225 million of which is available for swing line loans. The committed amount may be

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLAINS GP HOLDINGS LP terminated Hedged Inventory Facility (effective 2026-06-12).

Action: termination
Agreement: credit facility
Effective: 2026-06-12

Exact text from the filing

On June 12, 2026, in conjunction with the closing of the Revolving Credit Agreement, PAA, PCLP and PMLP, as applicable, repaid in full and terminated all outstanding obligations under (i) the Existing Revolving Credit Agreement and (ii) the Hedged Inventory Facility.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLAINS GP HOLDINGS LP terminated Existing Revolving Credit Agreement (effective 2026-06-12).

Action: termination
Agreement: credit facility
Effective: 2026-06-12

Exact text from the filing

On June 12, 2026, in conjunction with the closing of the Revolving Credit Agreement, PAA, PCLP and PMLP, as applicable, repaid in full and terminated all outstanding obligations under (i) the Existing Revolving Credit Agreement and (ii) the Hedged Inventory Facility.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLAINS GP HOLDINGS LP entered into Revolving Credit Agreement with Bank of America, N.A., PNC Bank, National Association, Wells Fargo Bank, National Association, and the other lenders party thereto valued at $2.7 billion (effective 2026-06-12).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., PNC Bank, National Association, Wells Fargo Bank, National Association, and the other lenders party thereto
Value: $2.7 billion
Effective: 2026-06-12

Exact text from the filing

On June 12, 2026, Plains All American Pipeline, L.P. (“PAA”), a subsidiary of Plains GP Holdings, L.P. (the “Registrant”), entered into an unsecured Credit Agreement (the “Revolving Credit Agreement”)

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Source: SEC EDGAR

accession 0001104659-26-075189

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