THE WOODLANDS, Texas,
Nov. 8, 2017 /PRNewswire/
-- Summit Midstream Partners, LP (NYSE: SMLP) (the
"Partnership") announced today that it has commenced, subject to
market conditions, an underwritten public offering of Series A
Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred
Units representing limited partner interests in the Partnership
(the "Preferred Units"). The Partnership intends to use the
net proceeds from the offering to repay outstanding borrowings
under its revolving credit facility and for general partnership
purposes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit
Suisse Securities (USA) LLC,
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are
acting as the joint book-running managers of this offering.
When available, copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be
obtained free of charge on the Securities and Exchange Commission's
website at www.sec.gov or from the underwriters of the offering as
follows:
Merrill Lynch,
Pierce, Fenner & Smith Incorporated
|
Credit Suisse
Securities (USA) LLC
|
Attn: Prospectus
Department
|
Attn: Credit
Suisse Prospectus Department
|
NC1-004-03-43, 200
North College Street, 3rd Floor
|
One Madison
Avenue
|
Charlotte NC
28255-0001
|
New York, NY
10010
|
Email:
dg.prospectus_requests@baml.com
|
Telephone: (800)
221-1037
|
|
Email:
newyork.prospectus@credit-suisse.com
|
|
|
Morgan Stanley &
Co. LLC
|
Wells Fargo
Securities, LLC
|
Attention: Prospectus Department
|
Attn: WFS Customer
Service
|
180 Varick Street,
2nd Floor
|
608 2nd Ave S, Suite
1000
|
New York, New York
10014
|
Minneapolis, MN
55402
|
|
Telephone: (800)
645-3751
|
|
Email:
wfscustomerservice@wellsfargo.com
|
The Preferred Units are being offered and will be sold pursuant
to an effective shelf registration statement on Form S-3 that was
previously filed with the Securities and Exchange Commission.
This news release does not constitute an offer to sell or a
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. The offering may
be made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
About Summit Midstream Partners, LP
SMLP is a growth-oriented limited partnership focused on
developing, owning and operating midstream energy infrastructure
assets that are strategically located in the core producing areas
of unconventional resource basins, primarily shale formations, in
the continental United States.
SMLP provides natural gas, crude oil and produced water gathering
services pursuant to primarily long-term and fee-based gathering
and processing agreements with customers and counterparties in five
unconventional resource basins: (i) the Appalachian Basin, which
includes the Marcellus and Utica
shale formations in West Virginia
and Ohio; (ii) the Williston Basin, which includes the Bakken and
Three Forks shale formations in North
Dakota; (iii) the Fort
Worth Basin, which includes the Barnett Shale formation in
Texas; (iv) the Piceance Basin,
which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado and Utah; and (v) the Denver-Julesburg Basin,
which includes the Niobrara and
Codell shale formations in Colorado and Wyoming. SMLP is in the process of
developing new gathering and processing infrastructure in a sixth
basin, the Delaware Basin, in
New Mexico. SMLP also owns
substantially all of a 40% ownership interest in Ohio Gathering,
which is developing natural gas gathering and condensate
stabilization infrastructure in the Utica Shale in Ohio. SMLP is headquartered in The Woodlands, Texas, with regional corporate
offices in Denver, Colorado and
Atlanta, Georgia.
Forward-Looking Statements
This press release includes certain statements concerning
expectations for the future that are forward-looking within the
meaning of the federal securities laws. Forward-looking statements
contain known and unknown risks and uncertainties (many of which
are difficult to predict and beyond management's control) that may
cause SMLP's actual results in future periods to differ materially
from anticipated or projected results. An extensive list of
specific material risks and uncertainties affecting SMLP is
contained in its 2016 Annual Report on Form 10-K as updated and
superseded by the Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 6, 2017, and as amended and updated from
time to time. Any forward-looking statements in this press release
are made as of the date of this press release and SMLP undertakes
no obligation to update or revise any forward-looking statements to
reflect new information or events.
View original content with
multimedia:http://www.prnewswire.com/news-releases/summit-midstream-partners-lp-announces-public-offering-of-series-a-fixed-to-floating-rate-cumulative-redeemable-perpetual-preferred-units-300551574.html
SOURCE Summit Midstream Partners, LP