Finance - Equity
The net proceeds of about $1.88 billion were used to purchase newly issued common units representing limited partnership interests in Williams Partners LP. The units were priced at about $36 each.
The net proceeds—about $1.48 billion–will refinance current maturities and repay outstanding revolving credit facility borrowings, the company said.
Underwriters received a 30-day option to purchase 9.75 million additional shares, and the offering is scheduled to close on Jan. 13.
The selling stockholder is selling 1.4 million shares, and will likely grant underwriters a 30-day over-allotment option to purchase about 2.5 million additional shares.
Each unit is comprised of one common share and one-half share purchase warrant, according to a Jan. 6 press release.
The net proceeds will support general corporate purposes including debt repayment, capex and working capital.
The net proceeds will support general working capital and development, including costs of the West Ells steam-assisted gravity drainage project in Canada’s Athabasca oil sands.
The agreement will enable Kuwait Energy to continue with its production plans in Block 9 in Iraq by bringing more wells onstream and increasing output, Reuters reported.
Goodrich currently has more than $40 million in cash, $16.65 million of first-lien debt and $40 million of second-lien debt.
Underwriters received a 30-day option to purchase 570,000 additional shares. BMO Capital Markets and Goldman Sachs are joint book-running managers.
WildHorse will use proceeds from its IPO to fund the remaining portion of its acquisition of about 158,000 net acres in Burleson County, Texas, from Clayton Williams Energy.