Enable Midstream Partners prices $1.65 B senior notes offering

Enable Midstream Partners LP

Enable Midstream Partners LP (NYSE: ENBL) has priced a $1.65 billion private offering, consisting of $500 million aggregate principal amount of 2.400% senior notes due 2019, $600 million aggregate principal amount of 3.900% senior notes due 2024, and $550 million aggregate principal amount of 5.000% senior notes due 2044. The notes will be senior unsecured obligations of Enable Midstream Partners LP. 

CenterPoint Energy Resources Corp. will guarantee the collection of Enable Midstream’s obligations under the notes maturing in 2019 and 2024 on an unsecured subordinated basis, subject to automatic release on May 1, 2016. The offering of the notes is expected to close on or about May 27.

Enable Midstream intends to apply $1.05 billion of the net proceeds from the 2.400% senior notes due 2019 and the 3.900% senior notes due 2024 to repay its $1.05 billion term loan in full. Enable Midstream intends to apply all other net proceeds from the offering to contribute funds to Enable Oklahoma Intrastate Transmission LLC (Enable Oklahoma) for repayment of Enable Oklahoma’s $250 million term loan and of Enable Oklahoma’s $200 million 6.875% senior notes due 2014 at maturity and for general partnership purposes, including the funding of expansion capital expenditures.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...