Plains GP refinances credit facilities with new $2.7B unsecured revolver, extends maturity to 2031

Filed June 17, 2026 · Period ending June 12, 2026 · ~1 min read

Key Changes

• high

  Plains All American Pipeline closed a new $2.7 billion unsecured revolving credit facility maturing June 2031, with option to expand to $4.0 billion. This replaces two prior credit agreements from 2021.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  The company simultaneously repaid and terminated its existing revolving credit agreement and hedged inventory facility on June 12, 2026, indicating a refinancing rather than debt reduction.

  Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR →
• medium

  New facility includes quarterly leverage covenant limiting debt-to-EBITDA to 5.00x (5.50x during acquisitions), providing lenders protection while maintaining strategic flexibility.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →