Enable Midstream Partners, LP, a midstream company, completed the public offering of 4.4% senior notes, due March 15, 2027, for gross proceeds of US$700 million (MM). The company received net proceeds of approximately US$692.76 MM, before expenses. The notes were priced at 99.615% of the principal amount to yield 4.448% at maturity. Interest on notes is payable semi-annually on March 15 and September 15 of each year, beginning from September 15, 2017.
Citigroup Global Markets Inc., MUFG Securities Americas Inc., RBC Capital Markets, LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., SunTrust Robinson Humphrey, Inc., and U.S. Bancorp Investments, Inc. acted as book-running managers, while BBVA Securities Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. acted as underwriters to the company for the offering. Baker Botts L.L.P. acted as legal advisor to the company for the offering.
The company intends to use the proceeds from the offering for general partnership purposes, including repaying amounts outstanding under its revolving credit facility.
Completed: On March 9, 2017, Enable Midstream completed the public offering of 4.4% senior notes due March 15, 2027, for gross proceeds of US$700 MM.
Pricing/Filing: On March 6, 2017, Enable Midstream priced the public offering of 4.4% senior notes due March 15, 2027, for gross proceeds of US$700 MM.