DCP Midstream, LP (the ‘Partnership’) has announced that its wholly owned subsidiary, DCP Midstream Operating, LP (the ‘Operating Partnership’), priced an upsized offering of US$500 million aggregate principal amount of its 5.625% senior notes due 2027 at a price to the public of 100% of their face value (the ‘Senior Notes’). The Senior Notes will be fully and unconditionally guaranteed by the Partnership. The offering is expected to close on 24 June, 2020, subject to the satisfaction of customary closing conditions.
The Operating Partnership intends to use the net proceeds from this offering for general partnership purposes, including the repayment of indebtedness under its revolving credit facility and the funding of capital expenditures.
BofA Securities, Inc., Barclays Capital Inc., Wells Fargo Securities, LLC, PNC Capital Markets, LLC, SMBC Nikko, SunTrust Robinson Humphrey and US Bancorp acted as joint book-running managers for the offering. Regions Securities LLC acted as co-manager for the offering.
The Senior Notes are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the ‘SEC’). This offering is being made only by means of a base prospectus and related prospectus supplement.
Read the article online at: https://www.worldpipelines.com/business-news/19062020/dcp-midstream-lp-announces-pricing-of-senior-notes-due-2027/