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Crestwood Midstream Partners LP Announces Public Offering Of Common Units

Monday, 18 Mar 2013 04:12pm EDT 

Crestwood Midstream Partners LP announced that it has commenced a public offering of 4,500,000 common units representing limited partner interests. The units will be offered by Crestwood pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the SEC). Crestwood also intends to grant the underwriters a 30-day option to purchase up to 675,000 additional common units. Crestwood intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to reduce the indebtedness outstanding under its revolving credit facility and the Crestwood Marcellus Midstream LLC revolving credit facility, and for general partnership purposes. The amount repaid under Crestwood's revolving credit facility may be reborrowed by Crestwood and used to fund both future acquisitions and growth capital expenditures. Citigroup, Barclays, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. 

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-0.47 -2.19%
22 Oct 2014