DCP Midstream to pay down revolver borrowings with notes proceeds

By Sara Rosenberg

New York, March 8 - DCP Midstream Partners LP plans on repaying all $135 million drawn under its revolving credit facility with proceeds from a $350 million senior notes offering, according to a news release.

Remaining proceeds will be used to fund the cash portion of the purchase price of the contribution by DCP Midstream LLC to the company of the additional 66.67% interest in the Southeast Texas system and for general corporate purposes.

DCP is a Denver-based company focused on gathering, processing, transporting and marketing natural gas, propane and natural gas liquids.

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