Enable Midstream Partners, LP Announces Pricing of Senior Notes
05 September 2019 - 7:27AM
Business Wire
Enable Midstream Partners, LP (NYSE: ENBL) (“Enable”) announced
today that it has priced an offering of $550 million aggregate
principal amount of 4.150% senior notes due 2029 at a price to the
public of 99.821% of their face value. Enable expects the offering
to close on September 13, 2019, subject to the satisfaction of
customary closing conditions.
Enable intends to use the net proceeds from the offering to fund
the repayment at maturity of Enable Oklahoma Interstate
Transmission, LLC’s $250.0 million aggregate principal amount of
6.25% senior notes due March 2020 (the “EOIT Senior Notes”), to
repay $200 million of outstanding borrowings under Enable’s 2019
term loan agreement and to repay amounts outstanding under Enable’s
commercial paper program. Pending the repayment of the EOIT Senior
Notes at maturity, Enable intends to use such portion of the net
proceeds to temporarily repay amounts outstanding under its
commercial paper program.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and
MUFG Securities Americas Inc. are acting as joint book-running
managers for the offering. Copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be
obtained, free of charge, on the Securities and Exchange
Commission’s website at http://www.sec.gov or by contacting the
underwriters of the offering at:
- Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
telephone: 1-800-831-9146, e-mail: prospectus@citi.com
- J.P. Morgan Securities LLC, Attention: Investment Grade
Syndicate Desk, 383 Madison Avenue, New York, New York 10179,
telephone: 1-212-834-4533
- MUFG Securities Americas Inc., Attention: Capital Markets
Group, 1221 Avenue of the Americas, 6th Floor, New York, New York
10020, telephone: 1-877-649-6848
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering is
being made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural
gas and crude oil infrastructure assets. Enable’s assets include
approximately 13,900 miles of natural gas, crude oil, condensate
and produced water gathering pipelines, approximately 2.6 Bcf/d of
natural gas processing capacity, approximately 7,800 miles of
interstate natural gas pipelines (including Southeast Supply
Header, LLC of which Enable owns 50 percent), approximately 2,300
miles of intrastate natural gas pipelines and eight natural gas
storage facilities comprising 84.5 billion cubic feet of storage
capacity.
FORWARD-LOOKING STATEMENTS
Some of the information in this press release may contain
forward-looking statements. Forward-looking statements give our
current expectations, contain projections of results of operations
or of financial condition, or forecasts of future events. Words
such as “could,” “will,” “should,” “may,” “assume,” “forecast,”
“position,” “predict,” “strategy,” “expect,” “intend,” “plan,”
“estimate,” “anticipate,” “believe,” “project,” “budget,”
“potential,” or “continue,” and similar expressions are used to
identify forward-looking statements. Without limiting the
generality of the foregoing, forward-looking statements contained
in this press release include our expectations of plans,
strategies, objectives, growth and anticipated financial and
operational performance, including revenue projections, capital
expenditures and tax position. Forward-looking statements can be
affected by assumptions used or by known or unknown risks or
uncertainties. Consequently, no forward-looking statements can be
guaranteed.
A forward-looking statement may include a statement of the
assumptions or bases underlying the forward-looking statement. We
believe that we have chosen these assumptions or bases in good
faith and that they are reasonable. However, when considering these
forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in this press release, the
prospectus supplement and accompanying base prospectus relating to
the offering and in our Annual Report on Form 10-K for the year
ended December 31, 2018 (“Annual Report”). Those risk factors and
other factors noted throughout this press release, the prospectus
supplement and accompanying base prospectus relating to the
offering and in our Annual Report could cause our actual results to
differ materially from those disclosed in any forward-looking
statement. You are cautioned not to place undue reliance on any
forward-looking statements.
Any forward-looking statements speak only as of the date on
which such statement is made and we undertake no obligation to
correct or update any forward-looking statement, whether as a
result of new information or otherwise, except as required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190904005981/en/
Enable Midstream Partners, LP Media: David Klaassen, (405)
553-6431 or Investor: Matt Beasley, (405) 558-4600
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