---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-106419"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2026-09-09T21:48:58+00:00"
generated_at: "2026-09-10T10:05:58.919151+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PAA prices $1.5B junior subordinated notes; redeems all preferred units

## Summary
- Priced $700M 6.75% Series A and $800M 7.00% Series B junior sub notes due 2056.
- Proceeds to redeem all 58.4M Series A preferred units at $28.875/unit (110% of par) and 800k Series B at $1,000/unit.
- Redemptions expected Sept 14 (Series A) and Oct 9 (Series B) 2026; offering closes Sept 14.
- Net proceeds plus cash on hand and commercial paper fund the redemptions.

## SEC filing metadata
- accession: 0001104659-26-106419
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2026-09-09T21:48:58+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070423/000110465926106419/0001104659-26-106419-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000110465926106419/tm2624962d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-106419
- JSON: https://secwatch.observer/filing/0001104659-26-106419.json
- Plain text: https://secwatch.observer/filing/0001104659-26-106419.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.