MarkWest Energy Partners LP and its subsidiary MarkWest Energy Finance Corp. announced that, subject to market conditions, they will commence a public offering of $500 million in aggregate principal amount of senior unsecured notes due 2024.
The company plans to use a portion of the net proceeds from the offering to repay borrowings under its revolving credit facility, and to use the remaining net proceeds to fund its capital expenditure program and to provide working capital for general partnership purposes.
Wells Fargo Securities, Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets, SunTrust Robinson Humphrey and US Bancorp are acting as joint book-running managers for the offering.
Recommended Reading
Belcher: Election Year LNG ‘Pause’ Will Have Huge Negative Impacts
2024-03-01 - The Biden administration’s decision to pause permitting of LNG projects has damaged the U.S.’ reputation in ways impossible to calculate.
US EPA Expected to Drop Hydrogen from Power Plant Rule, Sources Say
2024-04-22 - The move reflects skepticism within the U.S. government that the technology will develop quickly enough to become a significant tool to decarbonize the electricity industry.
US Eases Tailpipe Rules, Slows EV Transition Through 2030
2024-03-20 - The Biden administration is unveiling final rules on March 20 that make it easier for automakers to continue selling gas-powered models and slows the projected transition to electric vehicles through 2030.
Hirs: LNG Plan is a Global Fail
2024-03-13 - Only by expanding U.S. LNG output can we provide the certainty that customers require to build new gas power plants, says Ed Hirs.