Plains GP Holdings (PAGP) Enters New Credit Facility Agreement

This summary was generated by AI from the company's SEC filing and may contain errors — always verify against the primary source on SEC.gov.

The short version

Plains GP Holdings LP (PAGP) filed an 8-K on June 17, 2026, reporting that it entered into a new credit facility (a business loan arrangement with a group of lenders) while also terminating a prior credit agreement. The new facility allows borrowing in both U.S. and Canadian dollars, with Bank of America named as the swing line lender. The filing covers Items 1.01 (entry into a material agreement), 1.02 (termination of a prior material agreement), and 2.03 (creation of a new financial obligation).

Plains GP Holdings LP (ticker: PAGP) disclosed on June 17, 2026 that it entered into a new credit facility — essentially a revolving loan arrangement with a group of lenders — while simultaneously terminating its prior credit agreement, according to an 8-K filing with the SEC (the U.S. Securities and Exchange Commission).

What the New Agreement Covers

The filing attached the full credit agreement as Exhibit 10.1. The agreement allows PAGP and affiliated borrowers to draw loans in both U.S. dollars and Canadian dollars. Minimum loan amounts are set at $1,000,000 (or C$1,000,000 for Canadian-dollar loans), with borrowings available in several interest-rate formats, including Term SOFR loans (loans priced off a widely used U.S. benchmark rate) and Canadian Term Rate loans.

Borrowers can repay loans early at any time without penalty, as long as they give advance notice — typically two to three business days before the repayment date, depending on the loan type.

Key Structural Features

The agreement includes a defined "Availability Period," during which PAGP can draw on the facility. That window runs from the closing date until the earliest of the loan's maturity date, a voluntary termination of lender commitments, or a default-related termination.

Bank of America is named as the swing line lender — the lender responsible for providing short-term, same-day borrowing under the facility. The agreement also includes standard protections for lenders, such as cross-default provisions (meaning a default on other significant debt could trigger a default here as well) and rules governing what happens if a lender itself falls into default.

PAGP retains the right to reduce or fully cancel the total borrowing commitments under the facility at any time with at least two business days' notice, provided outstanding loan balances do not exceed the reduced commitment level.

Prior Agreement Terminated

Alongside entering the new facility, PAGP also formally terminated a prior material credit agreement, as reported under Item 1.02 of the filing. The filing does not provide additional details about the terminated agreement.

Key facts

Plains GP Holdings LP (PAGP) filed an 8-K on June 17, 2026

Filing covers Items 1.01, 1.02, 2.03, and 9.01

PAGP entered into a new credit facility (revolving loan agreement) with a group of lenders

A prior material credit agreement was simultaneously terminated (Item 1.02)

Loans available in U.S. dollars and Canadian dollars

Minimum U.S.-dollar loan size: $1,000,000; minimum Canadian-dollar loan size: C$1,000,000

Bank of America is named as the swing line lender

Borrowers may prepay loans early without penalty with proper advance notice

Cross-default provisions included: default on other significant debt can trigger a default under this facility

CIK: 0001581990

Why it matters

Replacing a credit facility is a meaningful event for a partnership like PAGP because the terms of its borrowing — how much it can access, at what cost, and under what conditions — directly affect its financial flexibility and ability to fund operations or acquisitions. The simultaneous termination of the old agreement and entry into a new one suggests a refinancing or restructuring of PAGP's lending arrangements. Investors should note that the filing does not disclose the total size (dollar commitment) of the new facility or its maturity date, which are key details that were not included in the extracted text.

Frequently asked

What did Plains GP Holdings (PAGP) announce in this 8-K filing?

PAGP announced it entered into a new credit facility — a loan arrangement with a group of lenders — and at the same time terminated a prior credit agreement, according to the June 17, 2026 filing.

Can PAGP borrow in Canadian dollars under the new facility?

Yes. The agreement allows borrowing in both U.S. dollars and Canadian dollars, with minimum loan sizes of $1,000,000 USD or C$1,000,000 CAD.

Can PAGP repay loans early, and is there a penalty?

Yes, PAGP can repay loans early at any time without a penalty, as long as it gives the required advance notice — generally two to three business days depending on the loan type.

Who is Bank of America's role in this credit facility?

Bank of America is named as the swing line lender, meaning it provides short-term, quick-draw borrowing under the facility.

What the filing reported

1.01 Entry into a Material Agreement

1.02 Termination of a Material Agreement

2.03 Creation of a Material Financial Obligation

9.01 Financial Statements & Exhibits