Finance & Investing | Capital Markets
Inergy Midstream Initiates $5MM Private Placement
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Inergy Midstream, L.P. and its wholly owned subsidiary NRGM Finance Corp. announced today the pricing of a private offering of $500 million in aggregate principal amount of senior unsecured notes due 2020. The offering size was increased to $500 million from $400 million. The 6% notes mature on December 15, 2020, and were issued at par. Inergy Midstream expects the offering of the notes to close on December 7, 2012, subject to the satisfaction of customary closing conditions.
Inergy Midstream intends to use the net proceeds from the Notes Offering to fund a portion of the $425 million purchase price of its pending acquisition of all of the equity interests in Rangeland Energy, LLC and to repay existing borrowings under its revolving credit facility. The remainder of the purchase price for…
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