Summit Midstream Holdings LLC

Description

With subsidiary Summit Midstream Finance Corp., will make public offering of senior unsecured notes due 2025, according to parent Summit Midstream Partners LP (SMLP). Summit Holdings will use the net proceeds to purchase all of SMLP's outstanding 7.50% notes due 2021 pursuant to its concurrent tender offer, and redeem any notes not acquired in the tender. Remainder will repay part of SMLP’s outstanding revolving credit facility debt. BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets, TD Securities and Wells Fargo Securities are joint book-running managers. BBVA, BMO Capital Markets, Capital One Securities, Citigroup, Citizens Capital Markets, Credit Suisse, ING, Morgan Stanley and Regions Securities LLC are senior co-managers, and BB&T Capital Markets and Comerica Securities are co-managers.

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Estimated Price
$500.0MM
Financing Type
Report Date