{"id":1002202,"date":"2026-09-09T18:35:14","date_gmt":"2026-09-09T22:35:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/"},"modified":"2026-09-09T18:35:14","modified_gmt":"2026-09-09T22:35:14","slug":"plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/","title":{"rendered":"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units"},"content":{"rendered":"<div class=\"mw_release\">\n<p>HOUSTON, Sept.  09, 2026  (GLOBE NEWSWIRE) &#8212; Plains All American Pipeline, L.P. (Nasdaq: PAA) (\u201cPAA\u201d) today announced that it has priced an underwritten public offering (the \u201cOffering\u201d) of $700,000,000 aggregate principal amount of PAA\u2019s 6.750% Series A Junior Subordinated Notes due 2056 (the \u201cSeries A Notes\u201d) and $800,000,000 aggregate principal amount of PAA\u2019s 7.000% Series B Junior Subordinated Notes due 2056 (the \u201cSeries B Notes\u201d and together with the Series A Notes, the \u201cNotes\u201d), at a price to the public of 100.000% and 100.000% of their face value, respectively. The interest rates on the Series A Notes and the Series B Notes will be subject to adjustment on December 15, 2031 and December 15, 2036, respectively (the \u201cFirst Reset Date\u201d), and on each five-year anniversary thereafter. The adjusted interest rates will be based on the then applicable Five-Year U. S. Treasury Rate plus a spread; provided that the interest rate during such periods will not reset below the initial interest rate of the applicable series of Notes. In addition, the Series A Notes and the Series B Notes will be subject to redemption by PAA during the 90-day period prior to the applicable First Reset Date and thereafter on any applicable interest payment date. The Offering is expected to close on September 14, 2026, subject to the satisfaction of customary closing conditions.<\/p>\n<p>PAA intends to use the net proceeds of the Offering, after deducting the underwriter discounts and estimated offering expenses, together with cash on hand and commercial paper borrowings, to redeem all of its Series A Preferred Units outstanding on or about September 14, 2026 and all of its Series B Preferred Units outstanding on or about October 9, 2026, plus accrued and unpaid distributions to, but not including, the applicable redemption date. This press release does not constitute a notice of redemption with respect to either of the Series A Preferred Units or the Series B Preferred Units.<\/p>\n<p>J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc. are acting as joint book-running managers for the Offering.\u00a0 The Offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) and may only be made by means of a base prospectus and accompanying prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, copies of which may be obtained from the underwriters as follows:<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:50%;width:50%;min-width:50%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">J.P. Morgan Securities LLC<br \/>c\/o Broadridge Financial Solutions<br \/>1155 Long Island Avenue<br \/>Edgewood, NY 11717\u00a0<br \/>Telephone: 212-834-4533<br \/>E-mail: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com<\/td>\n<td style=\"max-width:50%;width:50%;min-width:50%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: top\">Citigroup Global Markets Inc.<br \/>c\/o Broadridge Financial Solutions<br \/>1155 Long Island Avenue<br \/>Edgewood, NY 11717<br \/>Telephone: 1-800-831-9146<br \/>E-mail: prospectus@citi.com<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Mizuho Securities USA LLC\u00a0<br \/>1271 Avenue of the Americas\u00a0<br \/>New York, NY 10020<br \/>Telephone: 1-866-271-7403<\/p>\n<p><\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: top\">MUFG Securities Americas Inc.\u00a0<br \/>1221 Avenue of the Americas, 6th Floor<br \/>New York, NY 10020<br \/>Telephone: 1-877-649-6848<br \/>E-mail: syndicate@us.sc.mufg.jp<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Truist Securities, Inc. \u00a0<br \/>740 Battery Avenue SE, 3rd Floor<br \/>Atlanta, GA 30339<br \/>Telephone: 1- 800-685-4786<br \/>E-mail: TruistSecurities.prospectus@Truist.com<\/p>\n<p><\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law, including without limitation statements regarding the Offering and the expected timing and terms thereof. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management&#8217;s control. An extensive list of factors that can affect future results are discussed in PAA&#8217;s Annual Report on Form 10-K, the registration statement as discussed herein and other documents filed from time to time with the SEC. PAA undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.<\/p>\n<p>\n        <strong>About Plains<\/strong><br \/>\n        <br \/>PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil. PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada.<\/p>\n<p>PAA is headquartered in Houston, Texas.<\/p>\n<p>\n        <strong>Investor Relations Contacts:<\/strong><br \/>\n        <br \/>Blake Fernandez\u00a0<br \/>Ross Hovde<br \/>PlainsIR@plains.com\u00a0<br \/>(866) 809-1291\u00a0<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgyNDEzOCM3ODIyNTMwIzIxOTQ2Mzc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/OThhMjQ0NGItYTc3ZC00MjIxLWJjMDItOGQyZThkNjgzM2QzLTEyMDYxOTAtMjAyNi0wOS0wOS1lbg==\/tiny\/Plains-All-American-Pipeline-L.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON, Sept. 09, 2026 (GLOBE NEWSWIRE) &#8212; Plains All American Pipeline, L.P. (Nasdaq: PAA) (\u201cPAA\u201d) today announced that it has priced an underwritten public offering (the \u201cOffering\u201d) of $700,000,000 aggregate principal amount of PAA\u2019s 6.750% Series A Junior Subordinated Notes due 2056 (the \u201cSeries A Notes\u201d) and $800,000,000 aggregate principal amount of PAA\u2019s 7.000% Series B Junior Subordinated Notes due 2056 (the \u201cSeries B Notes\u201d and together with the Series A Notes, the \u201cNotes\u201d), at a price to the public of 100.000% and 100.000% of their face value, respectively. The interest rates on the Series A Notes and the Series B Notes will be subject to adjustment on December 15, 2031 and December 15, 2036, respectively (the \u201cFirst Reset Date\u201d), &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1002202","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HOUSTON, Sept. 09, 2026 (GLOBE NEWSWIRE) &#8212; Plains All American Pipeline, L.P. (Nasdaq: PAA) (\u201cPAA\u201d) today announced that it has priced an underwritten public offering (the \u201cOffering\u201d) of $700,000,000 aggregate principal amount of PAA\u2019s 6.750% Series A Junior Subordinated Notes due 2056 (the \u201cSeries A Notes\u201d) and $800,000,000 aggregate principal amount of PAA\u2019s 7.000% Series B Junior Subordinated Notes due 2056 (the \u201cSeries B Notes\u201d and together with the Series A Notes, the \u201cNotes\u201d), at a price to the public of 100.000% and 100.000% of their face value, respectively. The interest rates on the Series A Notes and the Series B Notes will be subject to adjustment on December 15, 2031 and December 15, 2036, respectively (the \u201cFirst Reset Date\u201d), &hellip; Continue reading &quot;Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-09T22:35:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgyNDEzOCM3ODIyNTMwIzIxOTQ2Mzc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units\",\"datePublished\":\"2026-09-09T22:35:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/\"},\"wordCount\":789,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgyNDEzOCM3ODIyNTMwIzIxOTQ2Mzc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\\\/\",\"name\":\"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/","og_locale":"en_US","og_type":"article","og_title":"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units - Market Newsdesk","og_description":"HOUSTON, Sept. 09, 2026 (GLOBE NEWSWIRE) &#8212; Plains All American Pipeline, L.P. (Nasdaq: PAA) (\u201cPAA\u201d) today announced that it has priced an underwritten public offering (the \u201cOffering\u201d) of $700,000,000 aggregate principal amount of PAA\u2019s 6.750% Series A Junior Subordinated Notes due 2056 (the \u201cSeries A Notes\u201d) and $800,000,000 aggregate principal amount of PAA\u2019s 7.000% Series B Junior Subordinated Notes due 2056 (the \u201cSeries B Notes\u201d and together with the Series A Notes, the \u201cNotes\u201d), at a price to the public of 100.000% and 100.000% of their face value, respectively. The interest rates on the Series A Notes and the Series B Notes will be subject to adjustment on December 15, 2031 and December 15, 2036, respectively (the \u201cFirst Reset Date\u201d), &hellip; Continue reading \"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/","og_site_name":"Market Newsdesk","article_published_time":"2026-09-09T22:35:14+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgyNDEzOCM3ODIyNTMwIzIxOTQ2Mzc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units","datePublished":"2026-09-09T22:35:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/"},"wordCount":789,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgyNDEzOCM3ODIyNTMwIzIxOTQ2Mzc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/plains-all-american-announces-pricing-of-public-offering-of-1500000000-of-junior-subordinated-notes-and-intent-to-redeem-series-a-and-series-b-preferred-units\/","name":"Plains All American Announces Pricing of Public Offering of $1,500,000,000 of Junior Subordinated Notes and Intent to Redeem Series A and Series B Preferred Units - 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