Plains All American Announces Pricing of Public Offering of $1.25 Billion of Senior Notes
Vinson & Elkins advised Plains All American Pipeline, L.P. (NASDAQ: PAA) (“PAA”) in connection with an underwritten public offering (the “Offering”) of $1.25 billion aggregate principal amount of debt securities, consisting of $700,000,000 aggregate principal amount of 4.700% senior notes due 2031 at a price to the public of 99.865% and $550,000,000 aggregate principal amount of 5.600% senior notes due 2036 at a price to the public of 99.798%.
PAA intends to use the net proceeds of approximately $1,236.5 million from the Offering to redeem its 4.65% senior notes due October 2025 and to use the remaining net proceeds to fund a portion of the purchase price of the acquisition of a 55% non-operated interest in EPIC Crude Holdings, and pending such use, general partnership purposes. The offering closed on September 8, 2025.
The Vinson & Elkins corporate team was led by partners David Oelman, Scott Rubinsky, and David Stone, and senior associate Nate Richards, with assistance from associates Rachel Campbell Alexander and Chandni Jaggi. Also advising were partners Wendy Salinas and Ryan Carney and associate Jeff Slusher.
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