Summit Midstream Partners to sell $300 million notes due 2022

By Paul A. Harris

Portland, Ore., July 8 – Summit Midstream Partners, LP announced in a Tuesday press release that it plans to sell $300 million senior notes due 2022.

The public offer is expected to be transacted on a quick-to-market timeline and will possibly price on Wednesday, a market source said late Tuesday.

Deutsche Bank Securities Inc., RBC Capital Markets, RBS Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners.

BBVA, BMO Capital Markets, BofA Merrill Lynch, ING, Regions Securities LLC and SunTrust Robinson Humphrey Inc. are the senior co-managers.

Capital One Securities, Credit Agricole CIB, PNC Capital Markets LLC and SMBC Nikko are the co-managers.

The Dallas-based limited partnership plans to use the proceeds to pay down its revolver.

The issuing entities will be Summit Midstream Holdings, LLC, a wholly owned subsidiary of Summit Midstream Partners, and Summit Midstream Finance Corp., a wholly owned subsidiary of Summit Midstream Holdings.

Summit Midstream Partners focuses on developing, owning and operating midstream energy infrastructure.

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