Rose Rock Midstream, L.P. Announces Pricing of $350 Million Senior Notes
12 May 2015 - 7:17AM
Rose Rock Midstream, L.P. (NYSE:RRMS) today announced the pricing
of its previously announced senior unsecured notes due 2023 (the
Notes). The offering was increased to $350 million in aggregate
principal amount from $300 million. The notes mature on November
15, 2023, will pay interest at a rate of 5.625% per year and were
priced at 98.345% of par to yield 5.875%. Rose Rock
anticipates that consummation of the offering will occur on May 14,
2015, subject to the satisfaction of customary closing conditions,
and intends to use the net proceeds from the offering to repay
amounts borrowed under Rose Rock's revolving credit facility and
for general partnership purposes.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale is unlawful.
The Notes and the guarantees thereof have not been registered under
the Securities Act of 1933, as amended (the Securities Act), or any
state securities laws and may not be offered or sold in the United
States absent registration or applicable exemption from the
registration requirements under the Securities Act and applicable
state securities laws. The Notes are expected to be offered and
sold only to qualified institutional buyers pursuant to Rule 144A
under the Securities Act and to non-U.S. persons outside of the
United States pursuant to Regulation S under the Securities Act.
This press release is being issued in accordance with Rule 135c
under the Securities Act.
Forward-Looking Statements
Certain matters contained in this press release include
"forward-looking statements".
All statements, other than statements of historical fact,
included in this press release, including regarding the offering of
the Notes and the expected use of proceeds from such offering, may
constitute forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, we cannot assure you that these expectations will prove
to be correct. These forward-looking statements are subject to
certain known and unknown risks and uncertainties, as well as
assumptions that could cause actual results to differ materially
from those reflected in these forward-looking statements. Factors
that might cause actual results to differ include, but are not
limited to, (i) Rose Rock's business plans may change as
circumstances warrant and the offering of the Notes may not
ultimately be completed because of general market conditions or
other factors or (ii) any of the factors discussed from time
to time in each of our documents and reports filed with the
Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on any
forward-looking statements contained in this press release, which
reflect management's opinions only as of the date hereof. Except as
required by law, we undertake no obligation to revise or publicly
release the results of any revision to any forward-looking
statements.
CONTACT: Investor Relations:
Alisa Perkins
918-524-8081
roserockir@rrmidstream.com
Media:
Kiley Roberson
918-524-8594
kroberson@rrmidstream.com
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