Finance & Investing | Debt | Capital Markets
MarkWest Initiates $500 Million Public Offering
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MarkWest Energy Partners, L.P. and its subsidiary MarkWest Energy Finance Corporation announced today that, subject to market conditions, they intend to commence a public offering of $500,000,000 in aggregate principal amount of senior unsecured notes due 2024.
The Partnership intends to use a portion of the net proceeds from the Notes offering to repay borrowings under its revolving credit facility. The Partnership intends to use the remaining net proceeds to fund its capital expenditure program and to provide working capital for general partnership purposes.
Wells Fargo Securities, Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets, SunTrust Robinson Humphrey and US Bancorp are acting as joint book-running managers for the Notes offering.