SemGroup Prices Private Placement Of 6.375% Senior Unsecured Notes, Due 2025 For US$325 Million

Published: Mar 08 2017
Deal Summary

SemGroup Corporation, a midstream company, priced the private placement of 6.375% senior unsecured notes, due March 15, 2025, for gross proceeds of US$325 million. The notes are priced at 98.467% of principal amount to yield 6.625% upon maturity.

The company intends to use the proceeds from the placement to purchase all of its outstanding 7.5% senior notes due 2021 pursuant to its concurrent tender offer; to pay the fees and expenses associated with the tender offer, the related redemption and the offering of the notes and; for general corporate purposes.

This placement is subject to customary closing conditions.

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