Plains All American prices USD 1.5 billion junior subordinated notes due 2056

• Plains All American Pipeline closed a $1.5 billion offering of 6.750% Series A Junior Subordinated Notes due 2056, 7.000% Series B due 2056.
• Notes issued under a subordinated indenture with U.S. Bank Trust Company, National Association as trustee, dated Sept. 14, 2026.
• Interest paid June 15, Dec. 15 starting June 15, 2027; rates reset from Dec. 15, 2031 for Series A, Dec. 15, 2036 for Series B.
• Reset tied to the Five-Year U.S. Treasury Rate plus a spread, with a floor at each series’ initial coupon.
• Debt is unsecured, junior to existing future senior indebtedness; no subsidiary guarantees.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plains All American Pipeline LP published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-107512), on September 14, 2026, and is solely responsible for the information contained therein.