EnLink Midstream prices secondary offering of common units by a Devon subsidiary

EnLink Midstream Partners LP (NYSE: ENLK) has priced an underwritten public offering of 22,800,000 common units representing limited partner interests in the Partnership owned by a subsidiary of Devon Energy Corp.

The offering was priced at $25.71 per common unit. Devon has also granted the underwriters a 30-day option to purchase up to 3,420,000 additional common units. The Partnership will not receive any proceeds from the offering of common units. The total number of outstanding common units of the Partnership will remain unchanged. The offering is expected to close on or about March 30.

Morgan Stanley is acting as representative and joint book-running manager for the offering. In addition, BofA Merrill Lynch, Barclays, Wells Fargo Securities, JP Morgan, UBS Investment Bank, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., RBC Capital Markets, Jefferies, and Raymond James are acting as joint book-running managers. Baird and Oppenheimer & Co. are acting as co-managers for the offering.

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...