THE WOODLANDS, Texas,
Feb. 8, 2017 /PRNewswire/ -- Summit
Midstream Partners, LP (NYSE: SMLP) announced today that its wholly
owned subsidiary, Summit Midstream Holdings, LLC ("Summit
Holdings"), and Summit Holdings' wholly owned subsidiary Summit
Midstream Finance Corp. ("Finance Corp." and together with Summit
Holdings, the "Issuers"), intend to offer, subject to market and
other conditions, $500.0 million in
aggregate principal amount of senior unsecured notes due 2025 (the
"notes"), pursuant to an effective shelf registration statement on
Form S-3 previously filed with the Securities and Exchange
Commission.
Summit Holdings will use the net proceeds from this offering to:
(i) purchase all of SMLP's outstanding 7.50% Senior Notes due 2021
pursuant to its concurrent tender offer, and, if necessary, redeem
any such notes not acquired in the tender offer, and (ii) utilize
the remaining proceeds to repay a portion of the indebtedness
outstanding under SMLP's revolving credit facility.
BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital
Markets, TD Securities and Wells Fargo Securities are acting as
joint book-running managers for the offering. BBVA, BMO Capital
Markets, Capital One Securities, Citigroup, Citizens Capital
Markets, Credit Suisse, ING, Morgan Stanley and Regions Securities
LLC are acting as senior co-managers for the offering.
BB&T Capital Markets and Comerica Securities are acting as
co-managers for the 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:
BofA Merrill
Lynch
|
Deutsche Bank
Securities Inc.
|
Attn: Prospectus
Department
|
Attn: Prospectus
Group
|
NC1-004-03-43, 200
North College Street, 3rd floor
|
60 Wall
Street
|
Charlotte NC
28255-0001
|
New York, NY
10005-2836
|
dg.prospectus_requests@baml.com
|
(800)
503-4611
|
|
prospectus.cpdg@db.com
|
|
|
RBC Capital Markets,
LLC
|
TD Securities (USA)
LLC
|
Three World Financial
Center
|
31 West 52nd
Street
|
200 Vesey Street,
10th Floor
|
New York, New York
10019-6101
|
New York, New York
10281-8098
|
(212)
827-7410
|
(877)
822-4089
|
|
|
|
Wells Fargo
Securities, LLC
|
|
Attn: WFS Customer
Service
|
|
608 2nd Ave S, Suite
1000
|
|
Minneapolis, MN
55402
|
|
Telephone: (800)
645-3751 Opt 5
|
|
Email:
wfscustomerservice@wellsfargo.com
|
|
The 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. This press
release shall not constitute an offer to sell or a solicitation of
an offer to buy the securities described above, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an 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.
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 Piceance Basin, which includes the
Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado and Utah, (iv) the Denver-Julesburg Basin, which
includes the Niobrara and Codell
shale formations in Colorado and
Wyoming; and (v) the Fort Worth Basin, which includes the Barnett
Shale formation in Texas. 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
2015 Annual Report on Form 10-K as updated and superseded by the
Current Report on Form 8-K/A filed with the Securities and Exchange
Commission on September 1, 2016, 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/summit-midstream-partners-lp-announces-500-million-public-offering-of-senior-notes-300404167.html
SOURCE Summit Midstream Partners, LP