EnLink Midstream Partners LP (NYSE: ENLK) has priced $750 million aggregate principal amount of its 4.150% senior notes due 2025 and $150 million aggregate principal amount of its 5.050% senior notes due 2045, at prices to the public of 99.827% and 96.381%, respectively, of their face value.
The 2045 notes are being offered as an additional issue of the Partnership’s outstanding 5.050% senior notes due 2045, issued in an aggregate principal amount of $300 million on Nov. 12, 2014. The 2045 notes and the notes issued on Nov. 12, 2014, will be treated as a single class of debt securities and will have identical terms, other than the issue date.
The sale of the senior notes is expected to settle on May 12. EnLink Midstream intends to use the net proceeds of approximately $886.8 million from this offering to repay outstanding borrowings under its revolving credit facility and for capital expenditures and general partnership purposes.
Barclays, BofA Merrill Lynch, and Deutsche Bank Securities are acting as representatives and joint book-running managers for the offering.