---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-107512"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2026-09-14T20:30:13+00:00"
generated_at: "2026-09-14T20:37:16.923308+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Plains All American completes $1.5B junior subordinated notes offering

## Summary
- $700M 6.750% Series A and $800M 7.000% Series B junior sub notes, both due Dec 15, 2056.
- Interest payable semi-annually Jun 15/Dec 15, starting Jun 15, 2027; rates reset after 2031/2036 with five-year resets.
- Notes unsecured, junior to senior debt; no subsidiary guarantees; redeemable at par in 90-day window before first reset.
- Underwriters: J.P. Morgan, Citigroup, Mizuho, MUFG, Truist; U.S. Bank Trust Company as trustee.

## SEC filing metadata
- accession: 0001104659-26-107512
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2026-09-14T20:30:13+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070423/000110465926107512/0001104659-26-107512-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000110465926107512/tm2625341d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-107512
- JSON: https://secwatch.observer/filing/0001104659-26-107512.json
- Plain text: https://secwatch.observer/filing/0001104659-26-107512.txt

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