Enable Midstream Partners closes $363M private placement of preferred equity

Enable Midstream Partners LP (NYSE: ENBL) has closed the previously announced private placement with CenterPoint Energy Inc. (NYSE: CNP) under which CenterPoint Energy purchased $363 million of 10% Series A fixed-to-floating non-cumulative redeemable perpetual preferred units at a price of $25 per unit.

In connection with the private placement, Enable redeemed $363 million of notes scheduled to mature in 2017 payable to a subsidiary of CenterPoint Energy Resources Corp.

Enable owns, operates, and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 12,300 miles of gathering pipelines, 13 major processing plants with approximately 2.3 billion cubic feet per day of processing capacity, approximately 7,900 miles of interstate pipelines (including Southeast Supply Header LLC of which Enable owns 50%), approximately 2,200 miles of intrastate pipelines and eight storage facilities comprising 87.5 billion cubic feet of storage capacity.

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