Access Midstream Partners LP (NYSE: ACMP) priced a public offering of $750 million of senior notes due 2024, the company said March 4.
The offer was upsized from $600 million, the company noted.
The notes’ yearly interest rate is 4.875%, the company said.
Proceeds will repay revolving credit borrowings, and also be used for general partnership purposes, Access Midstream said. These purposes include working capital, capex and acquisitions, the company added.
The offer is scheduled to close March 7, the company said.
Wells Fargo Securities LLC, Citigroup Inc. (NYSE: C), Goldman Sachs & Co. (NYSE: GS), J.P. Morgan, Mitsubishi UFJ Securities and RBC Capital Markets are the offer’s joint book-running managers, the company said.
Access Midstream Partners LP is a gathering and processing master limited partnership (MLP) based in Oklahoma City. It operates in the U.S. Mid-Continent and the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica shales.
Recommended Reading
Exclusive: Chevron New Energies' Bayou Bend Strengthens CCUS Growth
2024-02-21 - In this Hart Energy LIVE Exclusive interview, Chris Powers, Chevron New Energies' vice president of CCUS, gives an overview of the company's CCS/CCUS activity and talks about the potential and challenges of it onshore-offshore Bayou Bend project.
Exclusive: Tenaris’ Zanotti: Pipes are a ‘Matter of National Security’
2024-04-12 - COVID-19 showed the world that long supply chains are not reliable, and that if oil is a matter of U.S. national security, then in turn, so is pipe, said Luca Zanotti, U.S. president for steel pipe manufacturer Tenaris at CERAWeek by S&P Global.
Exclusive: As AI Evolves, Energy Evolving With It
2024-02-22 - In this Hart Energy LIVE Exclusive interview, Hart Energy's Jordan Blum asks 4cast's COO Andrew Muñoz about how AI is changing the energy industry—especially in the oilfield.
Exclusive: Liberty CEO Says World Needs to Get 'Energy Sober'
2024-04-02 - More money for the energy transition isn’t meaningfully moving how energy is being produced and fossile fuels will continue to dominate, Liberty Energy Chairman and CEO Christ Wright said.
Chesapeake, Awaiting FTC's OK, Plots Southwestern Integration
2024-04-01 - While the Federal Trade Commission reviews Chesapeake Energy's $7.4 billion deal for Southwestern Energy, the two companies are already aligning organizational design, work practices and processes and data infrastructure while waiting for federal approvals, COO Josh Viets told Hart Energy.