Capital Markets | Private Equity Activity
Crestwood Initiates Public Offering of Units
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Crestwood Midstream Partners LP has commenced an underwritten public offering of 14,000,000 common units representing limited partner interests in Crestwood.
Crestwood expects to grant the underwriters a 30-day option to purchase a maximum of 2,100,000 additional common units.
The net proceeds from the offering will be used to fund a portion of the consideration for Crestwood's pending acquisition of Arrow Midstream Holdings, LLC and related transaction costs and expenses. Crestwood's issuance of common units in the equity offering, including any common units issued in connection with the underwriter's option, together with the issuance of 8,826,125 common units to the sellers, represents the aggregate amount of equity Crestwood expects to issue in connection with the Arrow Acquisition…
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