Finance & Investing | Capital Markets | Private Equity Activity
Crestwood Issues Notes to Cover Acquisition
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Crestwood Midstream Partners has announced that it intends, subject to market and other conditions, to offer $500,000,000 aggregate principal amount of its Senior Notes due 2022 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.
The Notes will be guaranteed on a senior unsecured basis by certain of Crestwood Midstream's current and future domestic subsidiaries. Crestwood Midstream expects to use the net proceeds from this offering to fund a portion of the consideration payable by it in connection with its contemplated acquisition of Arrow Midstream Holdings, LLC, a Delaware limited liability company, and to pay down outstanding borrowings under its revolving credit facility. The closing of this offering will eliminate the…
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