Plains All American Pipeline, L.P. announced that it has entered into a new $1.0 billion 364-day credit facility to provide additional liquidity. The facility closed on January 16, 2015, and pursuant to its terms, Plains All American has up to 364 days to draw on the facility and repay any loans thereunder. This facility increased the Partnership's committed liquidity on a pro forma basis from approximately $2.6 billion to $3.6 billion as of December 31, 2014.

Bank of America, N.A. served as Administrative Agent. Merrill Lynch, Pierce, Fenner & Smith served as a Joint Lead Arranger, and was joined by Citigroup Global Markets Inc.; DNB Markets Inc.; J.P. Morgan Securities LLC; Mizuho Bank Ltd.; and Wells Fargo Securities, LLC as Joint Lead Arrangers.