Plains All American Pipeline LP - 2016-01-29


Closed the sale of about 61 million units of a newly authorized series of 8% Series A preferred units priced at $26.25 each. Net proceeds will support capex, debt payments and general partnership purposes. Primary purchasers included affiliates of EnCap Investments LP, EnCap Flatrock Midstream, The Energy & Minerals Group, Kayne Anderson Capital Advisors LP, First Reserve Advisors LLC and Stonepeak Partners LP. After two years, the units can be converted into common units on a one-for-one basis.

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