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.