Texas-based Plains All American Pipeline, L.P. announced a $1 billion offering of senior notes.
The firm stated it intends to use the net proceeds to repay the principal amounts of its $500 million 2.60% senior notes that are due 2019 and $500 million 5.75% senior notes due 2020.
Plains will also use some of the proceeds on acquisitions, capital expenditures and working capital.
Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. will act as joint book-running managers of the offering.