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Recent Updates — PAGP

September 14, 2026View Source ↗

Plains All American Pipeline, a wholly owned subsidiary of Plains GP Holdings, completed a public offering on September 14, 2026, issuing $700 million in aggregate principal amount of 6.750% Series A Junior Subordinated Notes due 2056 and $800 million of 7.000% Series B Junior Subordinated Notes due 2056. Interest is payable semi-annually on June 15 and December 15, commencing June 15, 2027. The filing also provides unaudited pro forma financial results for the year ended December 31, 2025, reflecting the full acquisition of EPIC Crude Holdings interests completed in October and November 2025. Plains GP Holdings operates as a master limited partnership holding company in the energy infrastructure sector.

August 7, 2026View Source ↗

Plains GP Holdings L.P. filed a Form 8-K on August 7, 2026, furnishing Exhibit 99.1 which reports the second-quarter 2026 financial results for Plains All American Pipeline, L.P. (PAA). PAA reported net income attributable to common unitholders of $1.83 billion, driven by a $1.6 billion gain from the sale of its Canadian NGL Business to Keyera Corp., which closed on May 12, 2026. Adjusted EBITDA attributable to PAA was $738 million, and pro forma leverage stood at 3.3x following approximately $2.9 billion in debt reduction. The company paid a quarterly cash distribution of $0.4175 per unit. Plains GP Holdings L.P. operates as the general partner control entity for Plains All American Pipeline, an integrated midstream energy company focused on crude oil transportation and storage.

June 17, 2026View Source ↗

On June 12, 2026, Plains All American Pipeline, L.P. (PAA), a subsidiary of Plains GP Holdings, L.P., entered into a new senior unsecured Revolving Credit Agreement with a committed borrowing capacity of $2.7 billion, which PAA may increase to $4.0 billion. The facility includes up to $800 million for letters of credit and $225 million for swing line loans, with a maturity date of June 12, 2031. This agreement replaces and terminates the Existing Revolving Credit Agreement and the Hedged Inventory Facility. The agreement includes a financial covenant limiting the ratio of Consolidated Funded Indebtedness to adjusted Consolidated EBITDA to 5.00 to 1.00, increasing to 5.50 to 1.00 during Acquisition Periods. The company operates in the energy infrastructure industry, providing midstream services for oil and gas.