American Midstream Announces $100 Million Offering of Senior Notes
December 14 2017 - 08:00AM
Business Wire
American Midstream Partners, LP (NYSE: AMID) (the “Partnership”)
announced today that it intends to offer for sale $100 million in
aggregate principal amount of 8.500% Senior Notes due 2021, subject
to market and other conditions. The notes will be an additional
issue of the Partnership’s outstanding 8.500% Senior Notes due
2021, which were issued in an aggregate principal amount of $300
million on December 28, 2016.
The notes will be offered and sold to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”), and to persons, other than U.S.
persons, outside of the United States pursuant to Regulation S
under the Securities Act.
The Partnership expects to use the net proceeds from the
offering to reduce borrowings under its revolving credit
facility.
The securities to be offered have not been registered under the
Securities Act or any state securities laws. Unless so registered,
the securities may not be offered or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to purchase the notes or any other
securities, and shall not constitute an offer to sell, a
solicitation of an offer to buy, or a sale of, the notes or any
other securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful.
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited
partnership formed to provide critical midstream infrastructure
that links producers of natural gas, crude oil, NGLs, condensate
and specialty chemicals to end-use markets. American Midstream’s
assets are strategically located in some of the most prolific
onshore and offshore basins in the Permian, Eagle Ford, East Texas,
Bakken and Gulf Coast. American Midstream owns or has an ownership
interest in approximately 5,100 miles of interstate and intrastate
pipelines, as well as ownership in gas processing plants,
fractionation facilities, an offshore semisubmersible floating
production system with nameplate processing capacity of 100 MBbl/d
of crude oil and 240 MMcf/d of natural gas; and terminal sites with
approximately 6.7 MMBbls of storage capacity.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
related to the Partnership’s expectations regarding the timing of
the proposed offering and use of proceeds. We have used the words
“could,” “expect,” “intend,” “may,” “will,” “would” and similar
terms and phrases to identify forward-looking statements in this
press release. Although we believe the assumptions upon which these
forward-looking statements are based are reasonable, any of these
assumptions could prove to be inaccurate and the forward-looking
statements based on these assumptions could be incorrect. Many of
the factors that will determine these results are beyond our
ability to control or predict. These factors include the risk
factors described in Part I, Item 1A. in our Annual Report on Form
10-K for the year ended December 31, 2016, filed with the SEC on
March 28, 2017, our Form 10-Q for the quarter ended September 30,
2017, filed with the SEC on November 9, 2017, and our other filings
with the SEC. All future written and oral forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by the previous statements.
The forward-looking statements herein speak as of the date of this
press release. We undertake no obligation to update such statements
for any reason, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171214005698/en/
American Midstream Partners, LPMark SchuckDirector of Investor
Relations346-241-3497mschuck@americanmidstream.com
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