Crosstex to repay revolver debt with common units proceeds

By Sara Rosenberg

New York, April 9 - Crosstex Energy LP plans to repay borrowings under its revolving credit facility using proceeds from the sale of 3.3 million common units, according to a news release.

Net proceeds from the issuance will be about $102 million.

Closing on the sale was scheduled for Wednesday.

Crosstex is a Dallas-based midstream natural gas company.

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