Plains All American closes $3.76B sale of Canadian NGL business, to pay down debt

Filed May 12, 2026 · Period ending May 12, 2026 · ~1 min read

Key Changes

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  Plains completed the sale of its Canadian natural gas liquids business to Keyera Corp for approximately $3.76 billion in cash, closing a deal first announced in June 2025.

  Item 2.01 verify on EDGAR →
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  Net proceeds of $3.3 billion after taxes and expenses will be used to reduce debt, including repaying commercial paper borrowings and a $1.1 billion term loan facility.

  Item 2.01 verify on EDGAR →
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  The sale triggered mandatory prepayment of PAA's $1.1 billion senior unsecured term loan entered in November 2025, which will be fully repaid and terminated by May 14, 2026.

  Item 1.02 verify on EDGAR →