Crestwood Midstream to repay revolver debt with senior notes proceeds

By Sara Rosenberg

New York, Oct. 22 - Crestwood Midstream Partners LP plans on paying down borrowings under its revolving credit facility using proceeds from a $500 million senior unsecured notes offering, according to a market source.

Remaining proceeds will be used to fund a portion of the Arrow Midstream Holdings LLC acquisition and pay related fees and expenses.

Crestwood Midstream is a Houston-based master limited partnership that owns and operates midstream businesses in multiple unconventional shale resource plays. Arrow is a Tulsa, Okla.-based midstream company.

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