03:45 AM EDT, 06/18/2024 (MT Newswires) -- Plains All American Pipeline ( PAA ) said late Monday it has priced an underwritten public offering of $650 million of 5.700% senior unsecured notes due 2034 at 99.953% of the face value.

The company intends to use net proceeds of about $643.3 million to pay down a portion of the $750 million outstanding principal amount of its 3.60% senior notes due 2024 ahead of the November maturity and for general partnership purposes.

The offering is expected to close on June 27.

Price: 16.50, Change: -0.24, Percent Change: -1.43