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BRIEF-Plains All American Pipeline LP - ‍board of directors endorsed intention to reset co and Plains GP holdings' annualized distribution per unit to $1.20 ​
August 25, 2017 / 8:52 PM / a month ago

BRIEF-Plains All American Pipeline LP - ‍board of directors endorsed intention to reset co and Plains GP holdings' annualized distribution per unit to $1.20 ​

Aug 25 (Reuters) - Plains All American Pipeline LP

* Plains All American Pipeline LP - ‍board of directors endorsed intention to reset co and Plains GP holdings’ annualized distribution per unit to $1.20 ​

* Plains All American Pipeline LP - board endorsed​ reduction of hedged crude oil and NGL inventory volumes and related debt by approximately $300 million

* Plains All American Pipeline - ‍resetting annualized distribution per unit to reduce annual distribution outflow by about $725 million/year

* Plains All American - apply retained cash flow & remaining asset sales proceeds to reduce total debt from $11.15 billion at June 30 to about $9.7 billion by March 31, 2019

* Plains All American Pipeline LP-board endorsed funding of co’s H2 2017, full-year 2018 expansion capital program which currently totals about $1.15 billion​ Source text for Eikon: Further company coverage:

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