While M&A activity has slowed in the energy sector, private equity is finding new ways to invest until it picks up again.
Notes will be issued in separate series. Net proceeds will pay about $1.02 billion in intercompany debt between Columbia and parent company NiSource Inc., and dividend concerning Columbia’s planned separation.
Financial terms of the joint venture were not disclosed, but KKR will provide equity. Monterra will own, develop, build and operate midstream infrastructure through greenfield and brownfield projects and assets.
Proceeds will be used to repay amounts borrowed under its revolving credit facility and for general partnership purposes.
The equity will finance the buildout and acquisition of natural gas pipeline and processing infrastructure in East Texas and nearby states. Woodland Midstream is based in The Woodlands, Texas.
The acquisition of the industrial and commercial propane distributor was financed through JP Energy’s revolving credit facility and the issuance of about 267,000 common units.
There are $750 million, in aggregate principal amount, of 4.150% senior notes due 2025, and $150 million, in aggregate principal amount, of 5.050% senior notes due 2045.
Net proceeds will pay part of purchase price for the pending acquisition of Polar Midstream LLC and Epping Transmission Co. LLC interests. The offering is scheduled to close May 13.
The common units represent a 7.5% limited partner interest in the partnership. EQT Corp. will hold a 92.5% limited partner interest and a non-economic general partner interest in the partnership.
The net proceeds will repay outstanding commercial paper program debts and outstanding amounts on another offering of notes due June 2015. They will also support general company purposes.
Net proceeds will repay some outstanding revolving credit facility debts and pay some cash consideration for proposed acquisition of Delaware City Products Pipeline and truck rack from PBF Energy.
FLNG Liquefaction 3 LLC closed about $4.6 billion in senior and mezzanine debt financings for Freeport LNG's third train at natural gas liquefaction and LNG loading facility near Freeport, Texas.