Loan & DebtJun 17, 2026, 04:52 PM
Plains All American Secures New $2.7B Revolving Credit Facility
AI Summary
Plains All American Pipeline, L.P., a subsidiary of Plains GP Holdings, entered into a new $2.7 billion senior unsecured revolving credit facility on June 12, 2026. This facility replaces two existing credit agreements, providing enhanced financial flexibility and an extended maturity. The committed amount can be increased to $4.0 billion, subject to lender commitments, and includes provisions for letters of credit and swing line loans.
Key Highlights
- Plains All American secured a new $2.7 billion senior unsecured revolving credit facility.
- The new facility replaces the existing revolving credit agreement and hedged inventory facility.
- Committed borrowing capacity can be increased to $4.0 billion at PAA's option.
- The facility has a scheduled maturity date of June 12, 2031, with extension options.
- Up to $800 million is available for letters of credit and $225 million for swing line loans.
- Canadian subsidiaries can obtain up to $1.0 billion in advances and Letters of Credit.
- Financial covenant limits Consolidated Funded Indebtedness to adjusted EBITDA to 5.00:1.00.
Price Impact
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