Crestwood Midstream Partners LP
Description
Crestwood Midstream Partners LP has priced $600 million in aggregate principal amount of 5.625% unsecured senior notes due 2027 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended, which was upsized from the originally proposed $500 million offering.
CMLP expects to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its revolving credit facility, which includes approximately $250 million of borrowings that were used to fund a portion of the previously announced acquisition of a 50% interest in Jackalope Gas Gathering Services LLC.