Finance & Investing | Debt | Capital Markets | Private Equity Activity
Summit Midstream to Offer $300MM in Senior Notes
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Summit Midstream Partners LP has reported that its wholly-owned subsidiary, Summit Midstream Holdings LLC and Summit Holdings' wholly-owned subsidiary Summit Midstream Finance Corp., intend to offer, subject to market and other conditions, $300 million in aggregate principal amount of senior unsecured notes due 2021.
Summit Holdings will use the net proceeds from this offering to repay a portion of outstanding borrowings under its revolving credit facility.
This offering is made in connection to the company's recently announced dual acquisition of Bison Midstream LLC as well as Marcellus gathering assets from MarkWest.
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