secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS ALL AMERICAN PIPELINE LP (PAA)
CIK:        0001070423
Form:       8-K
Filed at:   2026-09-09T21:48:58+00:00
Accession:  0001104659-26-106419
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070423/000110465926106419/0001104659-26-106419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070423/000110465926106419/tm2624962d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-106419

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