Plains All American Pipeline (PAA) today announced that it has completed its underwritten public offering of common units representing limited partner interests. The underwriters had exercised in full the over-allotment option and sold a total of 7,935,000 common units at a price to the public of $64.00 per common unit. Total net proceeds from the offering excluding underwriting discounts and commissions and estimated offering expenses were approximately $503 million. This amount also includes the general partner’s proportionate capital contribution. Net proceeds from the offering will be used to reduce outstanding borrowings under its credit facilities and for general partnership purposes. The company now has 149,134,175 common units outstanding as a result of the offering. Shares are down 0.73% to $62.27.