Plains GP completes $3.76B sale of Canadian NGL business, to pay down $3.3B in debt

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

Key Changes

• high

  Closed sale of substantially all Canadian natural gas liquids operations to Keyera Corp for approximately $3.76 billion cash (CAD $5.13 billion), subject to post-closing adjustments.

  Item 2.01 verify on EDGAR →
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  Net proceeds of $3.3 billion after taxes and expenses will reduce leverage, including repaying commercial paper borrowings, a $1.1 billion term loan, and 4.50% senior notes due December 2026.

  Item 2.01 verify on EDGAR →
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  Sale triggers mandatory prepayment of $1.1 billion term loan within seven business days; company intends to terminate the loan agreement effective May 14, 2026.

  Item 1.02 verify on EDGAR →