Plains All American Pipeline Completes Private Placement

Plains All American Pipeline, L.P. (NYSE: PAA) announced the issuance and sale by the Partnership of 3,245,700 Class C Common Units to a group of institutional investors comprised of affiliates of Kayne Anderson Capital Advisors, Vulcan Capital and Tortoise Capital Advisors.

Net proceeds from the private placement, including the general partner's proportionate capital contribution and expenses associated with the sale, will be approximately $101.0 million. The Partnership intends to use the net proceeds from the offering to repay indebtedness under its revolving credit facilities that was incurred in connection with the acquisition of Link Energy LLC's North American crude oil and pipeline operations.