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DCP Midstream Partners LP Announces Pricing of Common Unit Offering

Wednesday, 7 Aug 2013 06:11pm EDT 

DCP Midstream Partners LP announced that it has priced an underwritten public offering of 9,000,000 common units representing limited partner interests at $50.04 per common unit. The offering is expected to close on August 13, 2013. The Partnership also granted the underwriters a 30-day option to purchase up to 1,350,000 additional common units. The Partnership intends to use the net proceeds from this offering, including the net proceeds from any exercise of the underwriters' option to purchase additional common units, to repay indebtedness outstanding under its revolving credit facility and for general partnership purposes. Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets acted as joint book-running managers for the offering. Stifel, Ladenburg Thalmann & Co. Inc., Baird and BB&T Capital Markets acted as co-managers for the offering. 

Company Quote

-0.73 -1.88%
4:02pm EDT