Caterpillar PL87 Pipelayer Financing

Large-diameter transmission work requires a pipelayer rated for it. The Caterpillar PL87 is based on the D9T crawler platform and carries a higher lift capacity rating than the smaller PL83, making it the appropriate machine for 24-inch-plus pipe diameters that characterize interstate-grade and large gathering trunk lines. A pipeline contractor bidding a 30-inch or 36-inch mainline needs to show the client that the right iron will be on site, and the PL87 is what that specification calls for.

We finance PL87 pipelayers for contractors working major gathering systems, interstate laterals, and oilfield mainline projects. New machine prices from authorized Cat dealers have historically run from $700,000 to over $1 million depending on configuration and options. Used units with well-documented histories trade in a range below that. We work across the full price spectrum, and our approval timeline respects the mobilization schedules pipeline projects run on.

PL87 Capabilities and Pipeline Applications

The PL87's D9T foundation distinguishes it from the D8T-based PL83 in a fundamental way: the D9T is a heavier, more powerful base machine that provides the stability and traction for large-bore pipe installation. Key aspects of the PL87:

• Lift capacity: The PL87's rated lift capacity makes it the appropriate machine for heavy-wall large-diameter pipe. On a 36-inch natural gas transmission line, the pipe weight per joint is substantial, and the PL87's capacity envelope handles it where the PL83 would not.
• Stability on side slopes: Pipeline right-of-way frequently runs through terrain with cross-slopes. The PL87's wide undercarriage and counterweight engineering provide the stability needed to lower heavy pipe safely on grades.
• Cat D9T durability: The D9T undercarriage is built for long-haul cross-country work. On a project that runs for months over varied terrain, the undercarriage's maintenance cost and durability are a real operational variable.

Contractors who run a mixed pipelayer fleet often pair a PL87 with the smaller PL83 pipelayer for projects that span multiple pipe diameters, using the larger machine for mainline sections and the smaller unit for laterals and tie-ins. Financing both units under a coordinated facility reduces the administrative burden of managing two separate loan portfolios.

Who Buys PL87s and Why

The PL87 buyer profile is more specialized than the general excavator or dozer market. These machines go to contractors with demonstrated pipeline experience and active project pipelines. Here is the typical buyer:

• Mid-size pipeline contractors expanding capacity: A contractor who has been renting PL87s from equipment rental companies and winning enough work to justify ownership is a common buyer. The rent-to-own math is often clear: sufficient project days per year make owning cheaper than renting.
• Large contractors adding to an existing fleet: Major pipeline contractors maintaining a PL87 fleet for bid coverage sometimes buy additional units when work volume expands. These buyers often have established lender relationships but use us for individual unit transactions that need to close on a project schedule.
• Contractors stepping up from PL83 class equipment: A pipeline contractor who started on smaller-diameter work and is now bidding 30-inch and larger projects needs the PL87. This transition buyer is adding capability, not just replacing like for like.

In all three cases, the buyer is typically a serious operator with a specific project use in mind. We take the time to understand the project context because it informs how we structure the deal and how we think about the collateral deployment risk. Connect with us about our broader pipeline construction equipment financing program to see how individual machine financing fits into a project-level facility.

The Financing Process for a PL87 Transaction

PL87 transactions are typically above the short-form threshold, meaning we will need documentation beyond a one-page application for most deals. Here is the realistic expectation:

• Application and equipment details: The starting point is always the credit application and a full description of the unit being purchased, including year, hours, configuration, seller, and price.
• Bank statements: Recent operating statements is the standard. For larger deals, we may ask for the prior year tax return or a simple profit and loss statement.
• Credit profile: We consider B/C credit situations. A pipeline contractor who came through a hard patch in 2015 or 2020 is not automatically disqualified. We want to see current cash flow and active project work.
• Funding timeline: Seven to fourteen business days from a complete application package. If your project mobilization requires earlier equipment delivery, talk to us upfront about whether that timeline is achievable for your specific deal.

Structure options include fixed-rate term loans, FMV leases for contractors who prefer to return equipment at end of a project cycle, and sale-leaseback on existing iron. If you own a Cat 587T pipelayer or another piece of heavy pipeline equipment free and clear, a sale-leaseback can generate the capital to fund the PL87 purchase without a traditional down payment structure. Reach out about cash-out refinancing on existing pipeline iron as an alternative. And if you're running a mixed Cat fleet across multiple projects, our Caterpillar equipment financing overview covers the full spectrum from crawler dozers to pipelayers.