By Shankar Ramakrishnan
Jan 13 (Reuters) - U.S. integrated midstream infrastructure company Plains All American Pipeline PAA.O is set on Monday to price a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Proceeds will be used to fund an $800 million purchase of Ironwood Midstream Energy Partners and hybrid shares from EnCap Flatrock Midstream, Plains All American said earlier this month .
The offering set the stage for what is expected to be a busy year of bond financing for acquisitions.
Syndicate bankers on average are expecting around $1.65 trillion of new investment-grade bonds in 2025, topping the $1.5 trillion in 2024, making this the second most prolific year for such offerings, according to Informa Global Markets.
Daniel Krieter, credit strategist at BMO Capital, said M&A funding could account for about 14.5% to 15.5% of total investment-grade bond volumes this year, up from about 13.5% in 2024.
(Reporting by Shankar Ramakrishnan; Editing by Richard Chang)
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