Plains All American Pipeline LP completed an underwritten public offering of $750 million aggregate principal amount of 3.6% senior unsecured notes due Nov. 1, 2024 at a public offering price of 99.842% with a yield to maturity of 3.618%, the company announced Sept. 9.
Total net proceeds from the offering were about $742.7 million. Plains All American plans to use net proceeds from the offering to repay outstanding borrowings under its commercial paper program and for general purposes.
J.P. Morgan Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Merril Lynch, Pierce, Fenner & Smith Inc., DNB Markets Inc. and Mizuho Securities USA Inc. acted as joint book-running managers of the offering.
Recommended Reading
US Drillers Cut Oil, Gas Rigs for Second Time in Three Weeks
2024-02-16 - Baker Hughes said U.S. oil rigs fell two to 497 this week, while gas rigs were unchanged at 121.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
2024-04-05 - The oil and gas rig count, an early indicator of future output, fell by one to 620 in the week to April 5, the lowest since early February.
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
2024-04-19 - The oil and gas rig count, an early indicator of future output, rose by two to 619 in the week to April 19.
US Drillers Cut Oil, Gas Rigs for Fourth Week in a Row-Baker Hughes
2024-04-12 - The oil and gas rig count, an early indicator of future output, fell by three to 617 in the week to April 12, the lowest since November.
US Gas Rig Count Falls to Lowest Since January 2022
2024-03-22 - The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.