Finance - Debt & Equity

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After Rapid Growth, US Energy MLPs Running Out Of Road

Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis.

Emily Moser
Fri, 02/05/2016 - 07:45
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KKR's Energy Chief Lipschultz Leaves To Start New Fund

Lipschultz will leave KKR this month to start the new fund with Doug Ostrover, a former executive of private equity firm Blackstone, who helped to found its credit business, GSO Capital.

Emily Moser
Wed, 02/03/2016 - 07:36
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Plains All American Pipeline Closes $1.6 Billion Preferred Units Private Placement

Net proceeds will be about $1.6 billion, $140 million more than the amount expected due to additional commitments. The proceeds will support capex, debt payments and general partnership purposes.

Erin Pedigo
Fri, 01/29/2016 - 10:38
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CenterPoint Will Invest $363 Million In Enable Midstream’s Preferred Units

The transaction is scheduled to close before the end of first-quarter 2016, subject to CenterPoint’s completion of its review of Enable’s audited year-end 2015 financial statements and other conditions.

Erin Pedigo
Fri, 01/29/2016 - 09:40
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Cheniere Partners Retains 13 Joint Lead Arrangers For Debt Refinancing

Neal Shear, chairman of the board and interim CEO, said when the transaction closes and CCTP and SPLNG obligations are paid, Cheniere Partners’ earliest debt maturity will be in 2020.

Erin Pedigo
Mon, 01/25/2016 - 09:59
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KLR Group Files IPO For Blank-Check Acquisition Company

The firm plans to raise $130 million through the offering of 13 million units sold at $10 per unit, according to Securities and Exchange Commission filings on Jan. 19.

Emily Moser
Thu, 01/21/2016 - 07:55
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Kinder Morgan Swings To Loss In Fourth Quarter

Kinder Morgan, the largest energy infrastructure company in North America, cut its 2016 capital budget to $3.3 billion from its previous estimate of $4.2 billion.

Emily Moser
Thu, 01/21/2016 - 07:20
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Pembina Pipeline Closes CA$170 Million Preferred Share Offering

Proceeds will reduce debts under credit facilities and support capex and working capital requirements for 2016 capital program. Shares began trading on the Toronto Stock Exchange under the ticker “PPL.PR.K.”

Erin Pedigo
Fri, 01/15/2016 - 09:37
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Buffett's Berkshire Hathaway Buys Additional Phillips 66 Shares

From Jan. 4 to Jan. 11, Berkshire Hathaway paid about $390 million for additional 5.1 million shares of Phillips 66, according to filings with U.S. Securities and Exchange Commission, Reuters reported.

Erin Pedigo
Thu, 01/14/2016 - 17:08
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US High-yield Energy Bonds' Risk Premiums Reach Widest Point

Stan Shipley, Evercore ISI strategist, said ballooning junk bond spreads were false recession signals in years past. He said energy, steel, mining and paper industries drive current widening in spreads, Reuters reported.

Erin Pedigo
Thu, 01/14/2016 - 11:47
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Southcross Energy Partners Closes Unsecured Loan

Southcross and Southcross Holdings LP retained Kirkland & Ellis LLP as legal adviser, and Houlihan Lokey Inc. as financial adviser, regarding potential strategic alternatives and capital structure matters.

Erin Pedigo
Tue, 01/12/2016 - 16:28
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Plains All American Opens Private Placement Of Preferred Units

Primary purchasers include affiliates of EnCap Investments LP, EnCap Flatrock Midstream, The Energy Minerals Group, Kayne Anderson Capital Advisors LP and First Reserve Advisors LLC.

Erin Pedigo
Tue, 01/12/2016 - 09:44

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