EnLink Midstream starts $500 million tender offer for three notes

Chicago, Aug. 16 – EnLink Midstream, LLC started a cash tender offer for up to $500 million principal amount from three notes, according to a press release and details from the official announcement.

Listed by acceptance priority level, the tender offer covers:

• Any and all of the $502,348,000 outstanding 4.4% senior notes due 2024 (Cusip: 29336UAB3) for a total consideration of $1,008.75 per note;

• Up to $150 million of the $717,195,000 outstanding 4.15% senior notes due 2025 (Cusip: 29336UAE7) for a total consideration of $1,000 per note; and

• Up to $50 million of the $491 million outstanding 4.85% senior notes due 2026 (Cusip: 29336UAF4) for a total consideration of $1,013.75 per note.

The total considerations are based on par of $1,000 notes. The total considerations include a $30 early tender premium that will not be paid to noteholders who tender their notes after the early deadline.

Interest will also be paid to the applicable settlement date.

The early deadline is 5 p.m. ET on Aug. 29, also the withdrawal date.

The tender offers are scheduled to expire at midnight ET, at the end of Sept. 13.

The settlement dates are expected to be two days after the deadlines.

Funding for the tender offer will come from an offer of new senior notes due 2030, with existing corporate liquidity. The tender offer is conditioned on the settlement of the new offering.

Tenders may be prorated.

D.F. King & Co., Inc. is the information and tender agent for the offer (800 207-3159, 212 269-5550, enlc@dfking.com).

The lead dealer managers are BofA Securities (888 292-0070, 980 388-3646, debt_advisory@bofa.com) and Wells Fargo Securities (866 309-6316, 704 410-4756, liabilitymanagement@wellsfargo.com).

The co-dealer managers are Citigroup, RBC Capital Markets, PNC Capital Markets LLC and TD Securities.

EnLink is a Dallas-based independent midstream energy services company.

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