PLAINS GP HOLDINGS LP | 2013 | FY | 3


In addition to sales of PAA’s common units under its Continuous Offering Program described above, PAA completed the following offerings of its common units during the three years ended December 31, 2013 (in millions, except unit and per unit data):

 

 

 

 

 

Gross

 

Proceeds

 

 

 

Net

 

Period

 

Units Issued

 

Unit Price

 

from Sale

 

Costs

 

Proceeds

 

March 2012 (1)

 

11,500,000

 

$

40.015

 

$

460

 

$

(14

)

$

446

 

2012 Total

 

11,500,000

 

 

 

$

460

 

$

(14

)

$

446

 

 

 

 

 

 

 

 

 

 

 

 

 

November 2011 (1)

 

12,000,000

 

$

32.515

 

$

390

 

$

(13

)

$

377

 

March 2011 (1)

 

15,870,000

 

$

32.000

 

508

 

(15

)

493

 

2011 Total

 

27,870,000

 

 

 

$

898

 

$

(28

)

$

870

 

 

 

(1)                                     These offerings of common units were underwritten transactions that required PAA to pay a gross spread.


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Class A Shares

 

Class B Shares

 

Balance at October 21, 2013 (IPO date)

 

 

 

Shares issued in connection with the reorganization and IPO

 

132,382,094

 

473,647,679

 

Shares issued/(exchanged) in connection with AAP unit exchanges

 

1,451,543

 

(1,451,543

)

Balance at December 31, 2013

 

133,833,637

 

472,196,136

 


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Total cash distributions paid by PAA during the periods indicated were as follows (in millions, except per unit amounts):

 

 

 

Distributions Paid

 

Distributions

 

 

 

Common

 

AAP

 

 

 

per limited

 

Year

 

Units

 

Incentive

 

2%

 

Total

 

partner unit

 

2013

 

$

791

 

$

353

 

$

16

 

$

1,160

 

$

2.33

 

2012

 

$

684

 

$

271

 

$

14

 

$

969

 

$

2.11

 

2011

 

$

575

 

$

204

 

$

12

 

$

791

 

$

1.95

 


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