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"The renewal of our hedged inventory facility was solidly supported by our existing bank group as well as several new relationship banks, with the number of participating institutions increasing from nine to twenty-three," said Al Swanson, Senior Vice President and Chief Financial Officer for Plains All American Pipeline. "This renewal, combined with our proactive financing efforts, reinforces PAA's solid financial positioning and enables us to maintain a high level of committed liquidity. We would like to publicly express our appreciation to these banks for their continued support of PAA."
Funding for the facility was led by Banc of America Securities LLC and BNP Paribas, which are serving as Joint Book Runners. Bank of America, N.A. is serving as Administrative Agent, BNP Paribas is serving as Syndication Agent, and Societe Generale is serving as Documentation Agent.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. The Partnership is also engaged in the development and operation of natural gas storage facilities. The Partnership is headquartered in Houston, Texas.
SOURCE: Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. Manager, Investor Relations Roy I. Lamoreaux, 713-646-4222 -- 800-564-3036 or Vice President A. Patrick Diamond, 713-646-4487 -- 800-564-3036
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