Financing ·
Plains All American Pipeline, L.P. entered into a new $2.7 billion senior unsecured revolving credit facility on June…
PAAPlains All American Pipeline LP
Plains All American Pipeline, L.P. entered into a new $2.7 billion senior unsecured revolving credit facility on June 12, 2026. The agreement, involving Bank of America, N.A. as administrative agent, replaces the company's existing revolving credit agreement and the PMLP Hedged Inventory Facility. The facility includes up to $800 million for letters of credit and $225 million for swing line loans, with an option to increase total capacity to $4.0 billion. The agreement matures on June 12, 2031, and includes a financial covenant limiting consolidated funded indebtedness to adjusted consolidated EBITDA at a ratio of 5.00 to 1.00, increasing to 5.50 to 1.00 during acquisition periods. The company operates in the energy midstream industry, providing transportation and storage services for petroleum products.