American Midstream to pay down its, JP Energy’s revolvers via notes

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – American Midstream Partners, LP plans to repay a portion of its senior secured revolving credit facility and to repay and cancel JP Energy Partners LP’s senior secured revolver with proceeds of a $300 million offering of five-year senior notes, according to a press release.

American Midstream expects to merge with JP Energy in the first quarter of 2017.

Wells Fargo Securities LLC is the left bookrunner of the offering. BofA Merrill Lynch, RBC Capital Markets Corp., Citigroup Global Markets Inc., SunTrust Robinson Humphrey Inc., Natixis and ABN Amro are the joint bookrunners.

Houston-based American Midstream Partners owns, operates, develops and acquires natural gas midstream energy assets. Based in Irving, Texas, JP Energy gathers, stores and moves crude oil, refined products and natural gas liquids from production in key basins to consumer end markets.

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