Summit Midstream Partners, LP Announces Expiration and Pricing Terms of Cash Tender Offer to Purchase Any and All of Its Subsidiaries' 8.500% Senior Secured Second Lien Notes Due 2026
The settlement date for the Notes validly tendered (and not validly withdrawn) at or prior to the Expiration Time and accepted for purchase in the Tender Offer, including Notes submitted using the Notice of Guaranteed Delivery, is expected to occur on
The Issuers intend to fund the Purchase Price (as defined below) with net proceeds Holdings receives from the sale of
The consideration to be paid under the Tender Offer will be
Certain information regarding the Notes and the pricing terms is set forth in the table below.
Title of |
|
CUSIP |
|
Aggregate |
|
|
|
Bloomberg |
|
Reference |
|
Fixed |
|
Total |
|
Aggregate Principal |
8.500% Senior |
|
144A: 86614WAE6 Reg S: U8604TAB2 |
|
|
|
0.625% |
|
FIT3 |
|
5.376 % |
|
0 bps |
|
|
|
|
|
|
(1) |
The interest rate was increased to 9.500% on |
(2) |
Per |
(3) |
The principal amount tendered excludes |
The Tender Offer was made pursuant to the Offer to Purchase and the Notice of Guaranteed Delivery, which set forth the complete terms and conditions of the Tender Offer. The Tender Offer was made only by and pursuant to the terms set forth in the Offer to Purchase and the Notice of Guaranteed Delivery, and the information in this press release is qualified by reference to such document. In connection with the Tender Offer, the Issuers retained
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Notes.
About
SMLP is a value-driven limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental
Forward-Looking Statements
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions, or future conditional verbs such as "may," "will," "should," "would," and "could," including, but not limited to, statements regarding the expected closing of the New Financing and the intended use of the net proceeds therefrom and the anticipated Settlement Date. In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies and possible actions taken by SMLP or its subsidiaries are also forward-looking statements. Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMLP is contained in its Annual Report on Form 10-K for the year ended
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