Noble Midstream Partners LP Announces Pricing of Common Unit Offering
13 December 2017 - 10:00PM
Business Wire
Noble Midstream Partners LP (NYSE:NBLX) (“Noble Midstream” or
the “Partnership”) today announced it has priced its previously
announced underwritten public offering of 3,200,000 common units
for total gross proceeds (before underwriters’ compensation and
estimated expenses) of approximately $154.2 million. The offering
is scheduled to close on December 15, 2017, subject to satisfaction
of customary closing conditions. Noble Midstream also granted the
underwriters a 30-day option to purchase up to an aggregate of
480,000 additional common units. The Partnership currently intends
to use the net proceeds from the offering, including any exercise
of the underwriters’ option to purchase additional units, to fund a
portion of the purchase price for the Partnership’s previously
announced acquisition of Saddle Butte Rockies Midstream, LLC and
affiliates and to pay related fees and expenses. The proceeds will
be temporarily used to reduce borrowings under the Partnership’s
revolving credit facility until proceeds are needed for the closing
of the acquisition.
The underwriters intend to offer the common units for sale from
time to time in one or more transactions (which may include block
transactions), to purchasers directly or through agents, or through
brokers in brokerage transactions on the New York Stock Exchange,
or to dealers, in negotiated transactions or in combination of such
methods of sale, at a fixed price or prices, which may be changed,
or at market prices prevailing at the time of sale, at prices
related to such prevailing market prices or at negotiated
prices.
Citigroup is acting as the sole book-running manager for the
offering. When available, copies of the prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
contacting Citigroup at Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 (Tel: 800-831-9146).
You may also obtain these documents for free when they are
available by visiting the Securities and Exchange Commission’s (the
“SEC”) website at www.sec.gov.
This press release shall 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 jurisdiction. The offering may be 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. The offering will be made pursuant to an
effective shelf registration statement and prospectus filed by
Noble Midstream with the SEC.
Noble Midstream Partners LP is a growth-oriented master limited
partnership formed by Noble Energy, Inc., to own, operate, develop
and acquire a wide range of domestic midstream infrastructure
assets. The Partnership’s areas of focus are in the DJ Basin in
Colorado and the Delaware Basin in Texas.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding
future events, including the size, timing and results of the
offering and the consummation of the acquisition. All
forward-looking statements are based on the Partnership’s beliefs
as well as assumptions made by and information currently available
to the Partnership. These statements reflect the Partnership’s
current views with respect to future events and are subject to
various risks, uncertainties and assumptions. These risks,
uncertainties and assumptions are discussed in the Partnership’s
2016 Annual Report on Form 10-K and subsequent filings with the
SEC. The Partnership undertakes no obligation to update or revise
any forward-looking statement except as may be required by
applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171213005344/en/
Noble Midstream Partners LPChris Hickman, 281-943-1622VP,
Investor Relationschris.hickman@nblmidstream.com
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