The net proceeds will prepay part of the principal amounts currently outstanding under CCH's term loan credit facility.
Proceeds from IPOs of MLPs, the structure used by most energy firms to house assets that ship and store oil and gas, dropped to $323 million last year from $4.9 billion in 2015, according to Thomson Reuters data, Reuters reported.
Kinder Morgan said April 24 its Canadian unit filed a prospectus for an IPO of restricted voting shares, to help finance its C$7.4 billion (US$5.48 billion) Trans Mountain expansion project.
Austrian oil and gas group OMV AG said April 24 it would provide long-term financing to secure 30% of its share of project costs of the Nord Stream 2 pipeline from Russia.
Terry K. Spencer, president and CEO of ONEOK and ONEOK Partners, said this is a positive step in the move forward as one standalone company.
The offering is expected to close on April 10. Upon closing, the public will hold an approximate 26.5% limited partner interest. If the underwriters exercise the option in full, that interest will be an approximate 30.5%.
The net proceeds will repay the $185 million of 5.95% senior notes due 2017 upon their maturity on April 15, and support general corporate purposes.
The units will trade on the New York Stock Exchange under the ticker symbol "HESM."
Two deals increase MLP's borrowing limit to $1.1 billion and provide $275 million in liquidity.
ETP, MPLX and Enbridge complete transactions on the Bakken Pipeline System.
East Daley takes a granular approach in its outlook for 23 prominent midstream public companies.
The midstream infrastructure projects it will support include gathering, processing, distribution, storage and marketing of oil, natural gas and refined products. It will also support related segments of the energy value chain, the firm said.