PLAINS GP HOLDINGS LP

$2.7bn committed across 1 active facility, next covenant test Sep 30, 2026. PAGP

Pipe Lines (No Natural Gas)

Recent changes

  1. Jun 17, 2026PLAINS GP HOLDINGS LP signs $2.7bn CREDIT AGREEMENTSEC ↗

Total leverage: when the limit steps, and which way the company's ratio has been moving.

20266.26x2.98x-0.31xToday
Tested quarterly41.3%ratio 3.23x, estimated, vs 5.50x limit in force at Jun 30, 20265.50x
  • From (ii) Other than during an Acquisition Period 5.00:1.0 provided; for purposes of this Section 7.07, Consolidated EBITDA may include, at the Company's option any Material Project EBITDA Adjustments as provided below, limited in each case with respect to any non-wholly-owned Subsidiary or Qualifying JV Entity to a proportional amount of such adjustments equal to the Company's direct or indirect ownership interest therein. · 5.00x
Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Company to be greater than the ratio set forth below opposite such period, calculated, with respect to Consolidated EBITDA, on a trailing four-quarter basis:
Read the filing on sec.gov ↗

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CREDIT AGREEMENT

Signed Jun 12, 2026

Committed
$2.7bn
Matures
n/a
Agent
Bank of America, N.A.
TrancheSizeMaturesMargin
Revolving credit facility$2.7bnn/a100–175 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level 1A- / A3 or higher100 bps10 bps
Level 2BBB+ / Baa1113 bps13 bps
Level 3BBB / Baa2125 bps15 bps
Level 4BBB- / Baa3150 bps20 bps
Level 5BB+ / Ba1 or lower175 bps25 bps

§1.01

Lenders: BOFA SECURITIES, INC., PNC BANK, NATIONAL ASSOCIATION, WELLS FARGO SECURITIES, LLC, BMO CAPITAL MARKETS, THE BANK OF NOVA SCOTIA, HOUSTON BRANCH, BARCLAYS BANK PLC, CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, CITIBANK, N.A., COBANK ACB, FIFTH THIRD BANK, NATIONAL ASSOCIATION, JPMORGAN CHASE BANK, N.A., MIZUHO BANK, LTD.

No amendments on file yet.

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