Finance & Investing | General | Capital Markets | Private Equity Activity
Newly-Minted EnLink Midstream Prices $1.2B in Senior Notes
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EnLink Midstream Partners, LP has reported the pricing of $400.0 million aggregate principal amount of its 2.700% senior notes due 2019, $450.0 million aggregate principal amount of its 4.400% senior notes due 2024 and $350.0 million aggregate principal amount of its 5.600% senior notes due 2044, at prices to the public of 99.850%, 99.830% and 99.925%, respectively, of their face value.
The sale of the senior notes is expected to settle on March 19, 2014, subject to customary closing conditions. EnLink Midstream intends to use the net proceeds of approximately $1.190 billion from this offering to fund its previously announced tender offer for any and all of its outstanding 8.875% Senior Notes due 2018, to reduce borrowings under its credit facility and for general partnership purposes, including growth capital expenditures.
BofA Merrill Lynch, Citigroup and RBC Capital Markets are acting as representatives and joint book-running managers for the offering. In addition, BBVA, BMO Capital Markets, Comerica Securities, J.P. Morgan, Mitsubishi UFJ Securities, RBS, US Bancorp and Wells Fargo Securities are acting as joint book-running managers.