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American Midstream Partners LP announces public offering of common units

Wednesday, 22 Jan 2014 04:21pm EST 

American Midstream Partners LP:Says it has commenced an underwritten public offering of 3,400,000 of its common units representing limited partner interests.Says the Partnership also intends to grant the underwriters a 30-day option to purchase up to 510,000 additional common units.Says upon the closing of previously announced acquisition of an about 120-mile natural gas gathering and redelivery system located in the Eagle Ford shale from a subsidiary of Penn Virginia Corporation.Says the Partnership intends to use the net proceeds from this offering to fund a portion of the purchase price of the PVA Asset Acquisition.Says in the event the Partnership does not consummate the PVA Asset Acquisition, the Partnership will use the net proceeds of this offering to repay a portion of the outstanding borrowings under its credit facility or for general partnership purposes.Says if the underwriters exercise their option to purchase additional common units, the Partnership intends to use all the net proceeds from the sale of additional common units to repay a portion of the outstanding borrowings under its credit facility.Says Barclays and UBS Investment Bank will act as joint book-running managers for the offering. 

Company Quote

1.34 +4.85%
23 Oct 2014