THE WOODLANDS, Texas, Feb. 8, 2017 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) announced today that its wholly owned subsidiary, Summit Midstream Holdings, LLC (“Summit Holdings”), and Summit Holdings’ wholly owned subsidiary Summit Midstream Finance Corp. (“Finance Corp.” and together with Summit Holdings, the “Issuers”), intend to offer, subject to market and other conditions, $500.0 million in aggregate principal amount of senior unsecured notes due 2025 (the “notes”), pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Summit Holdings will use the net proceeds from this offering to: (i) purchase all of SMLP’s outstanding 7.50% Senior Notes due 2021 pursuant to its concurrent tender offer, and, if necessary, redeem any such notes not acquired in the tender offer, and (ii) utilize the remaining proceeds to repay a portion of the indebtedness outstanding under SMLP’s revolving credit facility.
BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets, TD Securities and Wells Fargo Securities are acting as joint book-running managers for the offering. BBVA, BMO Capital Markets, Capital One Securities, Citigroup, Citizens Capital Markets, Credit Suisse, ING, Morgan Stanley and Regions Securities LLC are acting as senior co-managers for the offering. BB&T Capital Markets and Comerica Securities are acting as co-managers for the offering.
When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission’s website at www.sec.gov or from the underwriters of the offering as follows: