Loan & DebtJun 17, 2026, 04:42 PM
Plains All American Enters $2.7B Unsecured Credit Facility
AI Summary
Plains All American Pipeline LP (PAA) has entered into a new Senior Unsecured Revolving Credit Facility, replacing its previous credit agreement. The new facility provides a committed borrowing capacity of $2.7 billion, with an option to increase it to $4.0 billion. The agreement matures on June 12, 2031, and includes covenants related to liens, indebtedness, asset sales, and affiliate transactions, as well as a financial covenant limiting leverage to 5.00 to 1.00.
Key Highlights
- Plains All American Pipeline LP entered into a new $2.7 billion unsecured Credit Agreement.
- The new facility replaces the existing $2.0 billion credit agreement dated August 20, 2021.
- The committed borrowing capacity can be increased to $4.0 billion at the Partnership's option.
- The credit agreement has a scheduled maturity date of June 12, 2031, with potential one-year extensions.
- The financial covenant limits Consolidated Funded Indebtedness to adjusted Consolidated EBITDA to no greater than 5.00 to 1.00.
Price Impact
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