EX-99.1
5
h72693exv99w1.htm
EX-99.1
exv99w1
Exhibit 99.1
Contacts:
Roy I. Lamoreaux
A. Patrick Diamond
Director, Investor Relations
Vice President
713-646-4222 - 800-564-3036
Plains All American Pipeline, L.P.
713-646-4487 - 800-564-3036
FOR IMMEDIATE RELEASE
PAA Natural Gas Storage, L.P. Prices Initial Public Offering
HOUSTON, April 29, 2010 - PAA Natural Gas Storage, L.P. (NYSE: PNG) today
announced that it has priced its initial public offering of 11,720,000 common
units representing limited partner interests at $21.50 per common unit. The
underwriters have been granted a 30-day over-allotment option to purchase up to
1,758,000 additional common units. The common units will begin trading on
Friday, April 30, 2010, on the New York Stock Exchange under the symbol "PNG".
The offering is expected to close on or about May 5, 2010.
Upon conclusion of the offering, the public will own approximately 20.1 percent
of the outstanding equity of PNG, or 23.2 percent if the underwriters exercise,
in full, their over-allotment option. Plains All American Pipeline, L.P. will
own the remaining equity interests in PNG.
Barclays Capital, UBS Investment Bank, Citi, and Wells Fargo Securities are
acting as joint book-running managers for the offering. BofA Merrill Lynch,
J.P. Morgan, Raymond James, Madison Williams, Morgan Keegan & Company, Inc.,
RBC Capital Markets, and Stifel Nicolaus are acting as co-managers for the
offering.
This offering of common units will be made only by means of a prospectus. A
written prospectus meeting the requirements of Section 10 of the Securities Act
of 1933, when available, may be obtained from the offices of:
Barclays Capital
UBS Investment Bank
c/o Broadridge Integrated Distribution Services
Attn: Prospectus Department
1155 Long Island Avenue
299 Park Avenue
Edgewood, New York 11717
New York, New York 10171
Toll free: 1-888-603-5847
Toll free: 1-888-827-7275
Barclaysprospectus@broadridge.com
Citi
Wells Fargo Securities
Brooklyn Army Terminal
Attn: Equity Syndicate Dept.
Attention: Prospectus Dept.
375 Park Avenue New York
140 58th Street, 8th floor,
New York 10152
Brooklyn, NY, 11220
Telephone: (800) 326-5897
Toll-free number: (800) 831-9146
equity.syndicate@wellsfargo.com
batprospectusdept@citi.com
A registration statement relating to these securities has been filed with,
and declared effective by, the Securities and Exchange Commission. This news
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these securities in any state in which
such offer, sale or solicitation would be unlawful prior to registration or
qualification under the securities law in any such state.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements that involve certain risks
and uncertainties. These risks and uncertainties include, among other things,
the stability of the capital markets and other factors and uncertainties
inherent in the development, acquisition, operation and commercial management
of natural gas storage facilities discussed in the Partnership's filings with
the Securities and Exchange Commission.
###

EX - 99 . 1 5 h72693exv99w1 . htm EX - 99 . 1 exv99w1 Exhibit 99 . 1 Contacts : Roy I . Lamoreaux A . Patrick Diamond Director , Investor Relations Vice President 713 - 646 - 4222 - 800 - 564 - 3036 Plains All American Pipeline , L . P . 713 - 646 - 4487 - 800 - 564 - 3036 FOR IMMEDIATE RELEASE PAA Natural Gas Storage , L . P . Prices Initial Public Offering HOUSTON , April 29 , 2010 - PAA Natural Gas Storage , L . P . ( NYSE : PNG ) today announced that it has priced its initial public offering of 11,720,000 common units representing limited partner interests at $ 21.50 per common unit . The underwriters have been granted a 30 - day over - allotment option to purchase up to 1,758,000 additional common units . The common units will begin trading on Friday , April 30 , 2010 , on the New York Stock Exchange under the symbol " PNG " . The offering is expected to close on or about May 5 , 2010 . Upon conclusion of the offering , the public will own approximately 20 . 1 percent of the outstanding equity of PNG , or 23 . 2 percent if the underwriters exercise , in full , their over - allotment option . Plains All American Pipeline , L . P . will own the remaining equity interests in PNG . Barclays Capital , UBS Investment Bank , Citi , and Wells Fargo Securities are acting as joint book - running managers for the offering . BofA Merrill Lynch , J . P . Morgan , Raymond James , Madison Williams , Morgan Keegan & Company , Inc . , RBC Capital Markets , and Stifel Nicolaus are acting as co - managers for the offering . This offering of common units will be made only by means of a prospectus . A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 , when available , may be obtained from the offices of : Barclays Capital UBS Investment Bank c / o Broadridge Integrated Distribution Services Attn : Prospectus Department 1155 Long Island Avenue 299 Park Avenue Edgewood , New York 11717 New York , New York 10171 Toll free : 1 - 888 - 603 - 5847 Toll free : 1 - 888 - 827 - 7275 Barclaysprospectus@broadridge.com Citi Wells Fargo Securities Brooklyn Army Terminal Attn : Equity Syndicate Dept . Attention : Prospectus Dept . 375 Park Avenue New York 140 58th Street , 8th floor , New York 10152 Brooklyn , NY , 11220 Telephone : ( 800 ) 326 - 5897 Toll - free number : ( 800 ) 831 - 9146 equity.syndicate@wellsfargo.com batprospectusdept@citi.com A registration statement relating to these securities has been filed with , and declared effective by , the Securities and Exchange Commission . This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer , sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state . Forward - Looking Statements Except for the historical information contained herein , the matters discussed in this news release are forward - looking statements that involve certain risks and uncertainties . These risks and uncertainties include , among other things , the stability of the capital markets and other factors and uncertainties inherent in the development , acquisition , operation and commercial management of natural gas storage facilities discussed in the Partnership 's filings with the Securities and Exchange Commission . # # #
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