# EDGAR Filing Document

**Accession Number:** 0001581990
**File Stem:** 0001104659-25-088308
**Filing Date:** 2025-9
**Character Count:** 12786
**Document Hash:** fca911c2b688c211832096c609cf5c0b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-088308.hdr.sgml**: 20250908

**ACCESSION NUMBER**: 0001104659-25-088308

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20250903

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250908

**DATE AS OF CHANGE**: 20250908

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PLAINS GP HOLDINGS LP
- **CENTRAL INDEX KEY:** 0001581990
- **STANDARD INDUSTRIAL CLASSIFICATION:** PIPE LINES (NO NATURAL GAS) [4610]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36132
- **FILM NUMBER:** 251300666

**BUSINESS ADDRESS:**
- **STREET 1:** 333 CLAY ST
- **STREET 2:** SUITE 1600
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002
- **BUSINESS PHONE:** 713-646-4100

**MAIL ADDRESS:**
- **STREET 1:** 333 CLAY ST
- **STREET 2:** SUITE 1600
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported) – September 3, 2025**

**Plains GP Holdings, L.P.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**1-36132** | &nbsp;&nbsp;**90-1005472** |
| &nbsp;&nbsp;(State or other jurisdiction of <br> incorporation) | &nbsp;&nbsp;(Commission File Number) | &nbsp;&nbsp;(IRS Employer Identification No.) |

---

**333 Clay Street, Suite 1600, Houston, Texas 77002**

(Address of principal executive offices) (Zip Code)

 **713-646-4100**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**Trading Symbol(s)** | &nbsp;&nbsp;**Name of each exchange on which <br> registered** |
| &nbsp;&nbsp;Class A Shares | &nbsp;&nbsp;PAGP | &nbsp;&nbsp;Nasdaq |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.** |

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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 September 8, 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 September 8, 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 on January 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 PAA's future subordinated debt. The Notes will be effectively subordinated to all of PAA's existing and future secured debt to the extent of the value of the collateral securing such indebtedness.

In certain circumstances, the Indenture restricts PAA's ability and the ability of certain of its subsidiaries to: (i) enter into sale and leaseback transactions; (ii) incur liens; (iii) merge or consolidate with another company; and (iv) transfer and sell assets. These covenants are subject to a number of important exceptions and qualifications.

The Indenture contains customary events of default with respect to the Notes of either series, including:

· default in any payment of interest
on any Note of that series when due, continued for 60 days;

· default in the payment of principal of or premium, if any, on any Note of
that series when due;

· failure by PAA to comply with its obligations under the Indenture, in certain
cases subject to notice and grace periods;

· payment defaults and accelerations with respect to other indebtedness of
PAA and its Subsidiaries (as defined in the Indenture) in the aggregate principal amount of $150.0 million or more;

· certain events of bankruptcy, insolvency or reorganization of PAA or, if
and so long as the Notes of that series are guaranteed by a subsidiary guarantor, by such subsidiary guarantor; or

· if and so long as the Notes of that series are guaranteed by a subsidiary
guarantor:

· the guarantee by such subsidiary guarantor ceases to be in full force and
effect, except as otherwise provided in the Indenture;

· the guarantee by such subsidiary guarantor is declared null and void in a
judicial proceeding; or

· such subsidiary guarantor denies or disaffirms its obligations under the
Indenture or its guarantee.

If an event of default under the Indenture occurs and is continuing, the Trustee or the holders of at least 25% in principal amount of the outstanding Notes may declare the principal of, premium, if any, and accrued and unpaid interest, if any, on the Notes to be due and payable, or, in the case of certain events of default relating to bankruptcy, insolvency or reorganization, those amounts will automatically become immediately due and payable.

Other material terms of the Notes, the Base Indenture and the Supplemental Indentures are described in the prospectus supplement, dated September 3, 2025 (the "prospectus supplement"), to the prospectus, dated September 6, 2024, which is included in the Registration Statement (as defined below). The foregoing descriptions of the Indenture and the Notes are qualified in their entirety by reference to such Indenture (including the forms of Notes attached thereto). Copies of the 35th Supplemental Indenture and the 36th Supplemental Indenture are filed as Exhibit 4.1 and Exhibit 4.3, respectively, to PAA's Current Report on Form 8-K and are incorporated herein by reference.

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|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

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The information contained in Item 1.01 is incorporated by reference into this Item 2.03.

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|:---|:---|
| **Item 8.01** | **Other Events.** |

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On September 3, 2025, the Issuers entered into an underwriting agreement (the "Underwriting Agreement") with BofA Securities, Inc., Barclays Capital Inc., PNC Capital Markets LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein (collectively, the "Underwriters"), relating to the Offering.

The Notes were offered and sold under the Issuers' shelf registration statement on Form S-3 (Registration No. 333-281967) filed with the U.S. Securities and Exchange Commission on September 6, 2024 (the "Registration Statement"), and are described in the prospectus supplement.

The Underwriting Agreement is filed as Exhibit 1.1 to PAA's Current Report on Form 8-K, filed as of the date hereof and is incorporated herein by reference.

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|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| [1.1](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex1-1.htm) | [Underwriting Agreement dated September 3, 2025 by and among Plains All American Pipeline, L.P., PAA Finance Corp. and BofA Securities, Inc., Barclays Capital Inc., PNC Capital Markets LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein (incorporated by reference to Exhibit 1.1 of Plains All American Pipeline, L.P.'s Current Report on Form 8-K filed on September 8, 2025).](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex1-1.htm) |
| [4.1](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-1.htm) | [Thirty-Fifth Supplemental Indenture, dated September 8, 2025, by and among Plains All American Pipeline, L.P., PAA Finance Corp. and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.1 of PAA's Current Report on Form 8-K filed on September 8, 2025).](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-1.htm) |
| [4.2](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-1.htm) | [Form of 4.700% Senior Notes due 2031 (included as Exhibit A in Exhibit 4.1) (incorporated by reference to Exhibit 4.2 of PAA's Current Report on Form 8-K filed on September 8, 2025).](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-1.htm) |
| [4.3](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-3.htm) | [Thirty-Sixth Supplemental Indenture, dated September 8, 2025, by and among Plains All American Pipeline, L.P., PAA Finance Corp. and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.3 of PAA's Current Report on Form 8-K filed on September 8, 2025).](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-3.htm) |
| [4.4](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-3.htm) | [Form of 5.600% Senior Notes due 2036 (included as Exhibit A in Exhibit 4.3) (incorporated by reference to Exhibit 4.4 of PAA's Current Report on Form 8-K filed on September 8, 2025).](https://www.sec.gov/Archives/edgar/data/1070423/000110465925088257/tm2524999d4_ex4-3.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**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.

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| | | |
|:---|:---|:---|
| Date: September 8, 2025 | **PLAINS GP HOLDINGS, L.P.** | **PLAINS GP HOLDINGS, L.P.** |
|  | By: | PAA GP Holdings LLC, its general partner |
|  | By: | /s/ Richard McGee |
|  | Name: | Richard McGee |
|  | Title: | Executive Vice President, General Counsel & Secretary |

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