Plains All American amends credit agreements for SOFR replacement

Chicago, Aug. 25 – Plains All American Pipeline, LP amended two of its credit agreements on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The company and Plains Midstream Canada ULC amended their revolver with Bank of America, NA as administrative agent. The rate will now be tied to SOFR instead of the previous eurocurrency rate.

Additionally, the amendment extends the maturity date an additional year, to Aug. 20, 2027.

Subsidiary Plains Marketing, LP amended a hedged inventory facility, also on Monday. Bank of America, NA is also the administrative agent. The benchmark also changed to SOFR and the maturity date was extended to Aug. 20, 2025, a year past the current maturity date.

Plains All American is a Houston-based midstream oil and gas company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.