DCP Midstream, LP Announces Public Offering of $400 Million of Senior Notes due 2032
November 04 2021 - 7:28AM
DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced
today that its wholly owned subsidiary, DCP Midstream
Operating, LP (the “Operating Partnership”), has
commenced a public offering of $400 million aggregate principal
amount of its senior notes due 2032 (the “Senior Notes”). The
Senior Notes will be fully and unconditionally guaranteed by the
Partnership.
The Operating Partnership intends to use the net
proceeds from the offering to repay indebtedness under its
revolving credit facility and for general partnership purposes.
J.P. Morgan Securities LLC, Mizuho Securities
USA LLC, RBC Capital Markets, LLC, Barclays Capital Inc., Citigroup
Global Markets Inc., MUFG Securities Americas Inc. and TD
Securities (USA) LLC are acting as joint book-running managers for
the offering. PNC Capital Markets LLC, Regions Securities LLC, SMBC
Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc.
are acting as co-managers for the offering.
The Senior Notes are being offered and will be
sold pursuant to an effective shelf registration statement that was
previously filed with the Securities and Exchange Commission
(the “SEC”). This offering is being made only by means of a base
prospectus and related prospectus supplement.
Before you invest, you should read the
preliminary prospectus supplement and accompanying base prospectus
in the registration statement for more complete information about
this offering. When available, copies of these documents may be
obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, Attn: Prospectus Department, 1155 Long Island Avenue,
Edgewood, NY 11717, or by telephone at 1-866-803-9204.
You may also obtain these documents free of
charge by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
DCP Midstream, LP (NYSE: DCP) is a Fortune 500
midstream master limited partnership headquartered in Denver,
Colorado, with a diversified portfolio of gathering, processing,
logistics and marketing assets. DCP is one of the largest natural
gas liquids producers and marketers and one of the largest natural
gas processors in the U.S. The owner of DCP’s general partner is a
joint venture between Enbridge and Phillips 66.
This press release includes forward-looking
statements as defined under the federal securities laws, including
statements regarding the intended use of offering proceeds and
other aspects of the senior notes offering. Although management
believes that expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such
expectations will prove to be correct. In addition, these
statements are subject to certain risks, uncertainties and other
assumptions that are difficult to predict and may be beyond the
control of the Partnership or the Operating Partnership, including
market conditions, customary offering closing conditions and other
factors described in the base prospectus and accompanying
prospectus supplement for the senior notes offering. If one or more
of these risks or uncertainties materialize, or if underlying
assumptions prove incorrect, the actual results of the Partnership
or the Operating Partnership may vary materially from what
management anticipated, estimated, projected or expected.
Investors are encouraged to closely consider the
disclosures and risk factors contained in the Partnership’s annual
and quarterly reports filed from time to time with the Securities
and Exchange Commission and in the base prospectus and accompanying
prospectus supplement for the senior notes offering. The statements
herein speak only as of the date of this press release. The
Partnership and Operating Partnership undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by applicable securities laws.
DCP Midstream Investor Relations:
Mike Fullman(303) 605-1628Source: DCP Midstream, LP
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