Plains All American Announces Receipt of Equity Commitments

    HOUSTON, June 20 /CNW/ -- Plains All American Pipeline, L.P. (NYSE:   PAA)
announced today that it has received equity commitments from a group of
entities affiliated with thirteen institutional and private investors led by
GPS Partners LLC. The commitments provide for the sale by PAA of 6.3 million
common units, which will generate aggregate net proceeds of approximately
$382.5 million, including the general partner's proportionate capital
contribution and estimated expenses associated with the issuance.
    The price for the common units, which will be issued under the
Partnership's existing shelf registration statement, was $59.56 per unit,
which represents an approximate 3% discount to the closing price of the common
units on June 18, 2007 (the reference price for the offering), as well as the
average closing price for the trailing twenty trading day period through such
date.  The sale price represents a 5.8% discount to the closing price on June
19, 2007.  The Partnership intends to complete the issuance by the end of
    "This transaction is consistent with our overall capital structure
maintenance activities as we continue to expand our merchant function and
implement our portfolio of capital projects, while simultaneously remaining
focused on our ultimate credit ratings objectives," stated Greg L. Armstrong,
Chairman and CEO of Plains All American Pipeline, L.P.  "A portion of the
proceeds from this transaction will be used to fund the closing of the
Bumstead LPG storage facility acquisition as well as our ongoing expansion
capital projects and the balance will be used to reduce our short-term
inventory related borrowings. We believe this equity issuance will increase
our financial flexibility by pre-funding future expansion capital projects and
enable us to move quickly if attractive acquisition opportunities arise."

    Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and marketing
of crude oil, refined products and liquefied petroleum gas and other natural
gas related petroleum products.  Through its 50% equity ownership in
PAA/Vulcan Gas Storage, LLC, the Partnership also develops and operates
natural gas storage facilities. The Partnership is headquartered in Houston,
Texas, and its common units are traded on the New York Stock Exchange under
the symbol "PAA."

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus and related prospectus supplement.

    Forward Looking Statements
    Certain statements in this news release, including statements regarding
pending and potential future acquisitions, capital expenditures and the sale
of common units to help finance such acquisitions and expansion capital
activities, are forward-looking statements.  Such statements involve certain
risks and uncertainties that could cause actual results to differ materially
from anticipated results.  These risks and uncertainties include the failure
to implement or capitalize on planned internal growth projects; the
availability of, and our ability to consummate, acquisition or combination
opportunities; our access to capital to fund additional acquisitions and our
ability to obtain debt or equity financing on satisfactory terms; the closing
of the direct placement of units; the stability of the capital markets; and
other risks and uncertainties as identified and discussed in the Partnership's
Annual Report on Form 10-K for the year ended December 31, 2006 as filed with
the Securities and Exchange Commission.

For further information:

For further information: Contacts: Phil D. Kramer, Executive Vice 
President and CFO, +1-713-646-4560, or Roy I. Lamoreaux, Manager, Investor 
Relations, +1-713-646-4222, both of Plains All American Pipeline, L.P., 
+1-800-564-3036 Web Site:

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