Company: PAGP
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001104659-25-088308
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Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On September 8,
2025, the registrant’s consolidated subsidiaries, Plains All American Pipeline, L. P. (“ PAA”) and PAA Finance Corp.
(together with PAA, the “ Issuers”) completed the public offering (the “ Offering”) of $1.25 billion aggregate
principal amount of the Issuers’ debt securities, consisting of $700,000,000 aggregate principal amount of 4.700% Senior Notes due
2031 (the “2031 Notes”) and $550,000,000 aggregate principal amount of 5.600% Senior Notes due 2036 (the “2036
Notes,” and, together with the 2031 Notes, the “ Notes”).

The terms of the Notes are governed by the indenture
(the “ Base Indenture,” and as amended and supplemented by the Supplemental
Indentures (defined below), the “ Indenture”) dated as of September 25, 2002 by and among the Issuers and U. S. Bank Trust
Company, National Association (as successor trustee), as trustee (the “ Trustee”), as supplemented by the Thirty-Fifth Supplemental
Indenture dated as of September8, 2025 by and among the Issuers and
the Trustee (the “35th Supplemental Indenture”) relating to the issuance of the 2031 Notes and the Thirty-Sixth Supplemental
Indenture dated as of September8, 2025 by and among the Issuers and the Trustee (the “36th Supplemental Indenture,”
and, together with the 35th Supplemental Indenture, the “ Supplemental Indentures”) relating to the issuance of the 2036 Notes.

The
2031 Notes will mature on January 15, 2031, and the 2036 Notes will mature onJanuary 15, 2036.
Interest is payable on the Notes on each January 15 and July 15, commencing on January 15, 2026. The Issuers may redeem
some or all of the Notes at any time and from time to time prior to maturity at the redemption prices specified in the Indenture.

The Notes
are PAA’s senior unsecured obligations, will rank equally in right of payment with all of PAA’s existing and future senior
debt, and will rank senior in right of payment to all of P