Plains All American Completes $500M Note Offering

Law360, New York (September 4, 2009, 5:25 PM EDT) -- Plains All American Pipeline LP has completed a public offering of $500 million in senior unsecured notes to pay off existing debt, including debt it incurred to acquire the remaining 50 percent interest in its natural gas storage business from Vulcan Capital.

The public offering completed Friday consisted of $500 million on principal amount of 5.75 percent senior unsecured notes due in 2020 at an offering price of $99.523 per $100 of principal to yield 5.813 percent.

PAA estimated the total net proceeds from the offering...
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