American Midstream Partners starts roadshow for $300 million five-year senior notes offering

By Paul A. Harris

Portland, Ore., Dec. 7 – American Midstream Partners, LP and American Midstream Partners Finance Corp. began a roadshow on Wednesday in New York for a $300 million offering of five-year senior notes (expected ratings Caa1/B), according to a syndicate source.

An investor call is set for 12:30 p.m. ET on Thursday.

The roadshow continues in New York and New Jersey on Thursday, moves to Boston on Friday, to Los Angeles on Monday and to San Francisco on Tuesday.

The Rule 144A and Regulation S with registration rights offering is also expected to price on Tuesday.

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

BMO Securities, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Capital One and Santander are the senior co-managers. BBVA Securities Inc. is the co-manager.

The notes become callable after two years at par plus 50% of the coupon.

The Denver-based partnership plans to use the proceeds to pay off JP Energy Partners LP’s senior secured revolver and repay a portion of the American Midstream Partners senior secured revolver.

American Midstream Partners owns, operates, develops and acquires natural gas midstream energy assets.

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