-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WNFzi1Q30zehiLPQsFL9exr3haZAKNosFeuX5G4CnVWm2uLQI/I6sprrtJuefbYB 9rWLCHsE8RKXqn4bblgnfg== 0000950123-10-064045.txt : 20100707 0000950123-10-064045.hdr.sgml : 20100707 20100707163453 ACCESSION NUMBER: 0000950123-10-064045 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100707 DATE AS OF CHANGE: 20100707 GROUP MEMBERS: AURORA PIPELINE CO LTD GROUP MEMBERS: LONE STAR TRUCKING, LLC GROUP MEMBERS: PAA FINANCE CORP GROUP MEMBERS: PACIFIC ENERGY GROUP LLC GROUP MEMBERS: PACIFIC L.A. MARINE TERMINALS LLC GROUP MEMBERS: PICSCO LLC GROUP MEMBERS: PLAINS LPG SERVICES GP LLC GROUP MEMBERS: PLAINS LPG SERVICES, L.P. GROUP MEMBERS: PLAINS MARKETING CANADA LLC GROUP MEMBERS: PLAINS MARKETING CANADA LP GROUP MEMBERS: PLAINS MARKETING GP INC GROUP MEMBERS: PLAINS MARKETING LP GROUP MEMBERS: PLAINS MIDSTREAM CANADA ULC GROUP MEMBERS: PLAINS MIDSTREAM GP LLC GROUP MEMBERS: PLAINS MIDSTREAM LP GROUP MEMBERS: PLAINS PIPELINE LP GROUP MEMBERS: PLAINS PRODUCTS TERMINALS LLC GROUP MEMBERS: PLAINS SOUTHCAP LLC GROUP MEMBERS: PMC NOVA SCOTIA CO GROUP MEMBERS: RANCHO LPG HOLDINGS LLC GROUP MEMBERS: ROCKY MOUNTAIN PIPELINE SYSTEM LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PLAINS ALL AMERICAN PIPELINE LP CENTRAL INDEX KEY: 0001070423 STANDARD INDUSTRIAL CLASSIFICATION: PIPE LINES (NO NATURAL GAS) [4610] IRS NUMBER: 760582150 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-162475 FILM NUMBER: 10942258 BUSINESS ADDRESS: STREET 1: 333 CLAY STREET STREET 2: SUITE 1600 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7136544100 MAIL ADDRESS: STREET 1: 333 CLAY STREET STREET 2: SUITE 1600 CITY: HOUSTON STATE: TX ZIP: 77002 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PLAINS ALL AMERICAN PIPELINE LP CENTRAL INDEX KEY: 0001070423 STANDARD INDUSTRIAL CLASSIFICATION: PIPE LINES (NO NATURAL GAS) [4610] IRS NUMBER: 760582150 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 333 CLAY STREET STREET 2: SUITE 1600 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7136544100 MAIL ADDRESS: STREET 1: 333 CLAY STREET STREET 2: SUITE 1600 CITY: HOUSTON STATE: TX ZIP: 77002 FWP 1 h74240fwfwp.htm FWP fwp
Filed Pursuant to Rule 433
Registration No. 333-162475
July 7, 2010
FINAL TERM SHEET
3.95% Senior Notes due September 15, 2015
     
Issuers:  
Plains All American Pipeline, L.P. and PAA Finance Corp.
   
 
Guarantee:  
Unconditionally guaranteed by certain subsidiaries of Plains All American Pipeline, L.P.
   
 
Trade Date:  
July 7, 2010
   
 
Expected Settlement Date*:  
July 14, 2010 (T+5)
   
 
Note Type:  
Senior Unsecured Notes
   
 
Legal Format:  
SEC Registered
   
 
Size:  
$400,000,000
   
 
Maturity Date:  
September 15, 2015
   
 
Coupon:  
3.95%
   
 
Yield to Maturity:  
3.975%
   
 
Interest Payment Dates:  
March 15 and September 15, commencing September 15, 2010
   
 
Price to Public:  
99.889%
   
 
Net Proceeds (after expenses) to Company:  
$396,456,000
   
 
Use of Proceeds:  
We expect to use the net proceeds from this offering to repay outstanding indebtedness under our credit facilities.
   
 
Benchmark Treasury:  
UST 1.875% due June 30, 2015
   
 
Spread to Benchmark Treasury:  
+220 bps
   
 
Benchmark Treasury Yield:  
1.775%
   
 
Make-Whole Call:  
T + 35 bps
   
 
CUSIP:  
72650RAX0
   
 
ISIN:  
US72650RAX08
   
 
Ratings**:  
Baa3 (stable) by Moody’s Investors Service, Inc.
BBB- (stable) by Standard & Poor’s Ratings Services
   
 
Joint Book-Running Managers:  
J.P. Morgan Securities Inc.
Banc of America Securities LLC
BNP Paribas Securities Corp.
   
 
Co-Managers:  
Mizuho Securities USA Inc.
Scotia Capital (USA) Inc.
ING Financial Markets LLC
SG Americas Securities, LLC
U.S. Bancorp Investments, Inc.
BBVA Securities Inc.
BMO Capital Markets Corp.
Comerica Securities, Inc.
Daiwa Capital Markets America Inc.
Morgan Stanley & Co. Incorporated
Natixis Bleichroeder LLC
The Williams Capital Group, L.P.

 

 

*We expect that delivery of the notes will be made against payment therefor on or about the expected settlement date specified above, which will be the fifth business day following the date of this term sheet. Under Rule 15c6-1 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of this term sheet or the following business day will be required, by virtue of the fact that the notes initially will settle in T+5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes on the date hereof or the following business day should consult their own advisor.
**Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuers have filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuers have filed with the SEC for more complete information about the issuers and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuers, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling collect J.P. Morgan Securities Inc. at 1-212-834-4533, Banc of America Securities LLC at 1-800-294-1322 or BNP Paribas Securities Corp. at 1-800-854-5674.

 

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