Crosstex Energy Commences Registered Exchange Offer For 8.875 Percent Senior Notes Due 2018
May 24 2010 - 8:16PM
Business Wire
Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and
Crosstex Energy Finance Corporation announced an offer to exchange
any and all of their $725,000,000 outstanding principal amount of
8.875 percent Senior Notes due 2018 for an equal amount of new
8.875 percent Senior Notes due 2018.
The terms of the new notes are substantially the same as the
original notes, except that the new notes will be registered under
the U.S. Securities Act of 1933, as amended, and the new notes will
have no transfer restrictions under the Federal securities laws,
registration rights or additional interest provisions. Original
notes that are not exchanged will continue to be subject to
transfer restrictions under the Federal securities laws.
The exchange offer will expire at 5:00 p.m., Eastern Time, on
June 23, 2010, unless extended. Tenders of the original notes must
be made before the exchange offer expires and may be withdrawn at
any time before the exchange offer expires.
The terms of the exchange offer are set forth in a prospectus
dated May 24, 2010. Documents related to the offer, including the
prospectus and the associated letter of transmittal, have been
filed with the Securities Exchange Commission, and may be obtained
from the exchange agent, Wells Fargo Bank, N.A. Wells Fargo’s
address, telephone number and facsimile number are as follows:
By Registered or Certified Mail Wells Fargo Bank, N.A. MAC
N9303-121 P.O. Box 1517 Minneapolis, Minnesota 55480 By
Overnight Delivery Wells Fargo Bank, N.A. MAC N9303-121 6th &
Marquette Avenue Minneapolis, Minnesota 55479 By Hand
Delivery Wells Fargo Bank, N.A. 608 2nd Avenue South Northstar East
Building —12th Floor Minneapolis, Minnesota Facsimile
Transmission 612-667-6282 Attn: Corporate Trust Operations Confirm
by Telephone: 800-344-5128
This press release shall not constitute an offer to exchange nor
a solicitation of an offer to exchange the original notes. The
exchange offer is being made only by the prospectus dated May 24,
2010, and only to such persons and in such jurisdictions as is
permitted under applicable law.
About the Crosstex Energy
Companies
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates approximately 3,300 miles of
pipeline, nine processing plants and three fractionators. The
Partnership currently provides services for 3.2 billion cubic feet
of natural gas per day, or approximately six percent of marketed
U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner
interest, a 25 percent limited partner interest and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found
at www.crosstexenergy.com.
This press release contains forward-looking statements within
the meaning of the Federal securities laws. These statements are
based on certain assumptions made by Crosstex based upon
management’s experience and perception of historical trends,
current conditions, expected future developments and other factors
Crosstex believes are appropriate in the circumstances. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Crosstex,
which may cause Crosstex’s actual results to differ materially from
those implied or expressed by the forward-looking statements.
Crosstex has no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
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