SemGroup to repay revolver borrowings via proceeds from new offering

By Sarah Lizee

Olympia, Wash., Jan. 16 – SemGroup Corp. plans to repay amounts borrowed under its revolving credit facility using proceeds from an offering of $350 million of 7% series A convertible preferred shares, according to a press release.

Proceeds from the offering will also be used to fund anticipated capital needs for this year and for general corporate purposes.

SemGroup is a midstream energy company based in Tulsa, Okla.

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