Plains All American Pipeline LP, which transports and stores crude oil and other petroleum products, said Friday it completed public offering of common stock resulting in proceeds of $210 million, excluding expenses.
The company said it sold 5.75 million shares of common stock priced at $36.90 per share. Proceeds from the offering were used to reduce outstanding borrowings under its credit facilities and pay for general business use, the company said.
UBS Investment Bank, Citi, J.P. Morgan, Merrill Lynch & Co. and Wachovia Securities acted as joint book-running managers for the offering.
The company now has 128.7 million shares of common stock outstanding.
Shares fell 35 cents to $37.02 in morning trading.
source: yahoo
The company said it sold 5.75 million shares of common stock priced at $36.90 per share. Proceeds from the offering were used to reduce outstanding borrowings under its credit facilities and pay for general business use, the company said.
UBS Investment Bank, Citi, J.P. Morgan, Merrill Lynch & Co. and Wachovia Securities acted as joint book-running managers for the offering.
The company now has 128.7 million shares of common stock outstanding.
Shares fell 35 cents to $37.02 in morning trading.
source: yahoo
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