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Rice Midstream Uses Equity Market to Repay Debt; $148MM


Rice Midstream Partners LP announced the commencement of an underwritten public offering of 8,000,000 common units representing limited partner interests. The shares are being offered at $18.50 per share for total proceeds of $148 million.

In connection with the offering, the Partnership expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common units.

RMP intends to use the net proceeds from this offering for general partnership purposes, including repayment of outstanding debt, acquisitions and capital expenditures.

Wells Fargo Securities is acting as book-running manager of the offering.

Announced Date
June 07,2016
Value  ( $MM )
148
Type
Equity
Use of Fund
Debt Reduction
Company
Rice Midstream Partners Lp
Underwriter
/Book Runner
Wells Fargo Securities LLC,Wells Fargo Securities LLC
Regions
Eastern US
Country
United States
Play
Marcellus Shale,Utica Shale

Contacts
Rice Midstream Partners Lp
D. Mark Leland
Director
Houston ,Texas ,77002
832-708-3444

Daniel J. Rice III
Board of Directors
Houston ,Texas ,77002
832-708-3444

DanielJ. Rice IV
Chief Executive Officer, Director
Houston ,Texas ,77002
832-708-3444

Grayson T. Lisenby
Senior Vice President and Chief Financial Officer
Houston ,Texas ,77002
832-708-3444

James H. Lytal
Director
Houston ,Texas ,77002
832-708-3444

James W. Rogers
Senior Vice President, Chief Accounting & Administrative Officer, Treasurer
Houston ,Texas ,77002
832-708-3444

Robert F. Vagt
Director
Houston ,Texas ,77002
832-708-3444

Robert R Wingo
Vice President and Chief Operating Officer, Director
Houston ,Texas ,77002
832-708-3444

Stephanie C. Hildebrandt
Director
Houston ,Texas ,77002
832-708-3444

William E. Jordan
Senior Vice President, General Counsel and Corporate Secretary
Houston ,Texas ,77002
832-708-3444