{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-107550","form_type":"8-K","ticker":"PAGP","cik":"0001581990","company_name":"PLAINS GP HOLDINGS LP","filed_at":"2026-09-14T21:08:25+00:00","discovered_at":"2026-09-14T21:10:13.451544+00:00","generated_at":"2026-09-14T21:10:23.257534+00:00","sec_items":["1.01","2.02","8.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"PAA raises $1.5B junior sub notes; pro forma 2025 EPS drops to $0.68","bullets":["$700M 6.750% Series A and $800M 7.000% Series B junior sub notes due 2056, maturing Dec 15, 2056.","Pro forma 2025 net income attributable to PAGP $135M vs $152M historical; EPS $0.68 vs $0.77.","Pro forma reflects 100% of EPIC Crude Holdings (Cactus III) with incremental interest ~$94M and D&A ~$102M.","Notes are unsecured, subordinated to senior debt, no subsidiary guarantees; first reset dates 2031/2036."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-107550","json":"https://secwatch.observer/filing/0001104659-26-107550.json","markdown":"https://secwatch.observer/filing/0001104659-26-107550.md","text":"https://secwatch.observer/filing/0001104659-26-107550.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1581990/000110465926107550/0001104659-26-107550-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1581990/000110465926107550/tm2625147d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-09-14T21:10:23.257534+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}