Atlas Pipeline talks $250 million 10-year notes at 8%-8¼%

By Paul A. Harris

St. Louis, Dec. 14 - Atlas Pipeline Partners LP talked its $250 million offering of 10-year senior notes at 8% to 8¼% on Wednesday, according to a syndicate source.

Pricing is expected Thursday afternoon.

Wachovia Securities has the books for the notes, which are offered via Rule 144A with registration rights. Banc of America Securities LLC is the joint lead manager. Lehman Brothers is the co-manager.

The notes will be non-callable for five years.

Proceeds will be used to repay the company's revolving credit facility.

Moody's Investors Service assigns its B1 rating to the notes. Standard & Poor's rates the notes B+.

Atlas Pipeline is a midstream energy services provider engaged in the transmission, gathering and processing of natural gas, with corporate headquarters in Moon Township, Pa.

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