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EnLink gets tenders for $536.1 million of 8 7/8% senior notes due 2018
By Tali Rackner
Norfolk, Va., March 21 - EnLink Midstream Partners, LP announced that holders of $536.1 million of its $725 million 8 7/8% senior notes due 2018 tendered their notes under the company's tender offer and consent solicitation, according to an 8-K filing with the Securities and Exchange Commission.
The offer, which began on March 12, expired at 11:59 p.m. ET on March 18.
Enlink and wholly owned subsidiary Enlink Midstream Finance Corp. also solicited and received consents to amend the notes to eliminate substantially all of the restrictive covenants and events of default provisions.
As previously reported, the purchase price is $1,050 for each $1,000 principal amount, which includes a consent payment of $30 per $1,000 of notes, plus accrued interest up to but excluding the settlement date.
As reported on Thursday, the company called the remaining $188,908,000 of the notes. They will be redeemed on April 18 at 104.438 plus accrued interest for a total redemption price of $1,059.91 per $1,000 principal amount of notes.
Global Bondholder Services Corp. (866 470-4500 or 212 430-3774) is the tender agent and information agent. Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106 collect) is the dealer manager.
EnLink Midstream Partners, formerly known as Crosstex Energy, LP, is a midstream natural gas company based in Dallas.
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