Debt | Capital Markets
Crosstex Begins Public Offering to Fund NGL Projects
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Crosstex Energy L.P. has priced an underwritten public offering of 7,200,000 common units representing limited partner interests of the Partnership at $20.33 per common unit.
The offering is expected to close on or about June 14, 2013. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,080,000 additional common units.
The Partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters’ exercise of their option, for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion, and for general partnership purposes.
Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Morgan Stanley and RBC Capital Markets acted as joint book-running managers for…
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