Plains GP Holdings Enters Material Definitive Agreement

TL;DR

Plains GP Holdings just signed a big deal, filing an 8-K on 8/22 about it.

AI Summary

Plains GP Holdings, L.P. entered into a material definitive agreement on August 19, 2024, related to a direct financial obligation. The filing, an 8-K, was submitted on August 22, 2024, and details financial statements and exhibits.

Why It Matters

This filing indicates a significant financial commitment or obligation for Plains GP Holdings, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Plains GP Holdings, L.P. (company) — Registrant
• August 19, 2024 (date) — Date of earliest event reported
• August 22, 2024 (date) — Filing date
• 333 Clay Street, Suite 1600, Houston, Texas 77002 (address) — Principal executive offices

FAQ

Filing Documents

• tm2422215d1_8k.htm (8-K) — 31KB
• tm2422215d1_ex10-1.htm (EX-10.1) — 144KB
• tm2422215d1_ex10-2.htm (EX-10.2) — 148KB
• 0001104659-24-092058.txt ( ) — 521KB
• pagp-20240819.xsd (EX-101.SCH) — 3KB
• pagp-20240819_lab.xml (EX-101.LAB) — 33KB
• pagp-20240819_pre.xml (EX-101.PRE) — 22KB
• tm2422215d1_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amendment to Senior Unsecured Revolving Credit Agreement On August 19, 2024, Plains All American Pipeline, L.P. (the "Partnership") and Plains Midstream Canada ULC ("PMC"), each a wholly-owned subsidiary of Plains GP Holdings, L.P. ("PAGP" or the "Registrant"), entered into that certain Second Amendment to Credit Agreement (the "Revolving Credit Facility Amendment") amending certain of the terms of their Credit Agreement dated as of August 20, 2021 among the Partnership and PMC, as borrowers, Bank of America, N.A., as administrative agent, and the other lenders party thereto (as amended, the "Revolving Credit Agreement"). Pursuant to the Revolving Credit Facility Amendment, among other things, the Canadian dollar offered rate (CDOR) was replaced with rates based on the Canadian Overnight Repo Rate Average (CORRA), and the requirement that lenders accept Canadian bankers' acceptances issued by PMC or other designated borrowers was eliminated. In connection with the Revolving Credit Facility Amendment, the Maturity Date of the Revolving Credit Agreement was also extended from August 18, 2028 to August 17, 2029. Terms used in this paragraph but not defined herein have the meanings assigned to them in the Revolving Credit Agreement. Amendment to Hedged Inventory Credit Agreement On August 19, 2024, Plains Marketing, L.P. ("PMLP"), a wholly-owned subsidiary of the Partnership, and PMC entered into that certain Second Amendment to Fourth Amended and Restated Credit Agreement (the "Hedged Inventory Facility Amendment" and together with the Revolving Credit Facility Amendment, the "Amendments") amending certain of the terms of their Fourth Amended and Restated Credit Agreement dated as of August 20, 2021 among PMLP and PMC, as borrowers, the Partnership, as guarantor, Bank of America, N.A., as administrative agent, and the other lenders party thereto (as amended, the "Hedged Inventory Facility"). Pursuant to the

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit 10.1 – Second Amendment to Credit Agreement dated as of August 19, 2024, among Plains All American Pipeline, L.P. and Plains Midstream Canada ULC, as Borrowers; certain subsidiaries of Plains All American Pipeline, L.P. from time to time party thereto, as Designated Borrowers; Bank of America, N.A., as Administrative Agent and Swing Line Lender; Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as L/C Issuers; and the other Lenders party thereto. Exhibit 10.2 – Second Amendment to Fourth Amended and Restated Credit Agreement dated as of August 19, 2024, among Plains Marketing, L.P. and Plains Midstream Canada ULC, as Borrowers; Plains All American Pipeline, L.P., as guarantor; Bank of America, N.A., as Administrative Agent and Swing Line Lender; Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as L/C Issuers; and the other Lenders party thereto. Exhibit 104 – Cover Page Interactive Data File (embedded within the inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PLAINS GP HOLDINGS, L.P. Date: August 22, 2024 By: PAA GP Holdings LLC, its general partner By: /s/ Al Swanson Name: Al Swanson Title: Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR