EnLink planning two-part senior notes offering; pricing Thursday

By Aleesia Forni

Virginia Beach, May 7 – EnLink Midstream Partners LP announced plans to price an offering of senior notes (Baa3/BBB/) in two tranches on Thursday, according to a market source and a 424B2 filed with the Securities and Exchange Commission.

The sale is expected to include notes due 2025 and a tap of the company’s existing 5.05% notes due April 1, 2045, of which $300 million priced on Nov. 6 at Treasuries plus 200 bps.

Proceeds will be used to repay outstanding borrowings under its revolving credit facility, for capital expenditures and for general partnership purposes.

The bookrunners are Barclays, BofA Merrill Lynch, Deutsche Bank Securities Inc., BBVA, Credit Agricole, MUFG, PNC Capital Markets, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc.

EnLink Midstream Partners, formerly known as Crosstex Energy, LP, is a midstream natural gas company based in Dallas.

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