DCP Midstream Partners LP has announced that it has commenced an underwritten public offering of 10,250,000 of its common units representing limited partner interests. The partnership also intends to grant the underwriters a 30-day option to purchase up to 1,537,500 additional common units.
The partnership intends to use the net proceeds from this offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to repay indebtedness outstanding under its revolving credit facility and for general partnership purposes.
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