Plains All American prices USD 1.5 billion junior subordinated notes offering due 2056
PAA•Use of proceeds and closing timing
Proceeds are earmarked to redeem all Series A preferred units around Sept. 14, 2026.
Funds are also targeted to redeem all Series B preferred units around Oct. 9, 2026.
The offering is expected to close Sept. 14, 2026.
Offering priced and split into two series
Plains All American priced a USD 1.5 billion offering of junior subordinated notes due 2056.
The deal includes:
- USD 700 million of 6.75% Series A Junior Subordinated Notes
- USD 800 million of 7% Series B Junior Subordinated Notes
