NasdaqGS:PAAOil and Gas
Expanded Credit Facility Could Be A Game Changer For Plains All American Pipeline (PAA)
Earlier this month, Plains All American Pipeline entered into a new unsecured revolving credit agreement providing US$2.70 billion in committed borrowing capacity, extendable to US$4.00 billion, with a scheduled maturity in 2031 and financial covenants tied to its leverage and credit rating.
This expanded facility, alongside increased spending on Permian crude oil projects as pipeline capacity tightens, gives Plains greater financial flexibility to fund U.S. crude infrastructure while...