trending Market Intelligence /marketintelligence/en/news-insights/trending/jyv9joWZ7DJV7vWq1OuHoA2 content esgSubNav
In This List

Plains GP Holdings reaches deal with banks to sell up to $500M in stock

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Research Brokers Accelerate Their Coverage of Electric Vehicles

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Plains GP Holdings reaches deal with banks to sell up to $500M in stock

Plains GP Holdings LP struck an agreement with a consortium of banks to act as sales agents in selling up to $500 million in class A shares from time to time.

Net proceeds from any sale of the shares would be used for general partnership purposes, such as debt repayment, acquisitions, CapEx and additions to working capital, according to a Dec. 27 SEC filing.

Under the agreement, the shares would be sold through Wells Fargo Securities LLC, Barclays Capital Inc., BB&T Capital Markets, BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., DNB Markets Inc., Fifth Third Securities Inc., J.P. Morgan Securities LLC, Jefferies LLC, Merrill Lynch Pierce Fenner & Smith Inc., MUFG Securities Americas Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, Raymond James & Associates Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., SunTrust Robinson Humphrey Inc. and UBS Securities LLC.

Plains GP Holdings owns a controlling interest in the general partner of Plains All American Pipeline LP, as well as an indirect 14% limited partner interest.