Summit Midstream Partners LP said May 28 that underwriters exercised and closed their option to purchase 975,000 additional notes in 6.5 million common units offering that closed May 13.
Final dropdown of Devon’s legacy assets, given in 2014, was made for about $900 million of newly issued ENLK units. Assets include North Texas and Oklahoma gathering and processing systems.
Green Plains Partners LP seeks ownership, operatorship and expansion of downstream logistics assets supporting Green Plains’ 1.2 billion gallon per year ethanol marketing and distribution business, an SEC filing said.
Common units will list on NASDAQ under ticker “PTXP.” PennTex Midstream Partners LLC and MRD WHR LA Midstream LLC will own 40.4% and 27.0%, respectively, of the limited partner interests.
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.