Plains All American Secures $2.7B Revolver, Extends Maturity to 2031
PAA sits 38% above its 52-week low of $15.685.
Summary
Plains All American Pipeline has secured a new $2.7 billion senior unsecured revolving credit facility, which is extendable to $4 billion and matures in 2031. This new facility replaces and fully repays the company's 2021 revolving credit agreement and hedged inventory facility. The refinancing significantly strengthens PAA's liquidity and financial flexibility by extending the maturity profile of its debt.
At the time of this announcement, PAA was trading at $21.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $15.2B. The 52-week trading range was $15.69 to $24.26. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.