Crosstex Energy Announces Expiration of Registered Exchange Offer for 8.875 Percent Senior Notes Due 2018
June 24 2010 - 5:00PM
Business Wire
Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and
Crosstex Energy Finance Corporation (together, the Issuers) today
announced the expiration of their 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 exchange offer expired at 5 p.m.,
Eastern time, on June 23, 2010.
Wells Fargo Bank, N.A., the exchange agent for the exchange
offer, has advised that $725,000,000 aggregate principal amount of
the original 8.875 percent Senior Notes due 2018 were validly
tendered and not validly withdrawn prior to the expiration of the
exchange offer, which represents 100% of the aggregate principal
amount of original notes outstanding upon commencement of the
exchange offer. The Issuers have accepted for exchange all of the
original notes validly tendered and not validly withdrawn. The
Issuers expect to complete the exchange offer and to issue the new
notes in exchange for the original notes on or about June 25,
2010.
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.
Crosstex Energy, Inc. (MM) (NASDAQ:XTXI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Crosstex Energy, Inc. (MM) (NASDAQ:XTXI)
Historical Stock Chart
From Jul 2023 to Jul 2024