Plains All American’s $750 Million Senior Notes Offering

Baker Botts LLP represented the underwriters on the offering. Plains All American was advised by Vinson & Elkins.

Plains All American Pipeline, L.P. (NYSE: PAA) announced that it has commenced a public offering of senior notes.  PAA intends to use the net proceeds from the offering to partially repay the principal amount of its $600 million 5.00% senior notes due 2021 on or prior to their maturity date in February 2021 and, pending such repayment, for general partnership purposes, which may include, among other things, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital.

J.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc. and RBC Capital Markets, LLC will act as joint book-running managers of the offering, which is expected to close June 11, 2020.

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (“NGL”), and natural gas.

The Baker team was led by Josh Davidson (Picture) and included Jeremy Moore, Jennifer Gasser, Parker Hinman and Chuck Campbell.

The V&E team was led by partners David Oelman and Alan Beck with assistance from counsel Chris Mathiesen, senior associate Austin March and associates Audrey Bartosh and Madison Guidry.

Involved fees earner: Chuck Campbell – Baker Botts; Joshua Davidson – Baker Botts; Jennifer Gasser – Baker Botts; Parker Hinman – Baker Botts; Jeremy Moore – Baker Botts; Audrey Bartosh – Vinson & Elkins LLP; Alan Beck – Vinson & Elkins LLP; Madison Guidry – Vinson & Elkins LLP; Christian Mathiesen – Vinson & Elkins LLP; David Palmer Oelman – Vinson & Elkins LLP;

Law Firms: Baker Botts; Vinson & Elkins LLP;

Clients: Bank of America Securities; Barclays Capital ; JP Morgan Securities; Plains All American Pipeline L.P.; RBC Capital Markets;


Author: Ambrogio Visconti