Rose Rock Midstream LP (RRMS) said May 11 it has priced its offering of senior unsecured notes due 2023.
The offering was increased to $350 million in aggregate principal amount from $300 million. The notes were priced at 98.345% of par to yield 5.875%.
Proceeds will be used to repay amounts borrowed under its revolving credit facility and for general partnership purposes.
Rose Rock, based in Tulsa, Okla., said it expects the offering will close on May 14, subject to the satisfaction of customary closing conditions.
The notes mature on Nov. 15, 2023 and will pay interest at a rate of 5.625% per year.
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