Finance & Investing | Debt | Capital Markets | Private Equity Activity
Summit to Offer $300 Million 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 2022, pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Summit Holdings will use the net proceeds from this offering to repay a portion of the outstanding borrowings under its revolving credit facility.
Deutsche Bank Securities, RBC Capital Markets, RBS and Wells Fargo Securities are acting as joint book-running managers for the offering. BBVA, BMO Capital Markets, BofA Merrill Lynch, ING, Regions Securities LLC and SunTrust Robinson Humphrey are acting as senior co-managers for the offering. Capital One Securities, Credit Agricole CIB, PNC Capital Markets LLC and SMBC Nikko are acting as co-managers for the offering.