Summit Midstream Holdings LLC and its subsidiary Summit Midstream Finance Corp. will offer $500 million of senior unsecured notes due 2025 in a public offering, according to parent Summit Midstream Partners LP (SMLP) on Feb. 8.

Summit Holdings will use the net proceeds to purchase all of SMLP's outstanding 7.50% notes due 2021 pursuant to its concurrent tender offer, and redeem any notes not acquired in the tender. Remaining proceeds will repay part of SMLP’s outstanding revolving credit facility debt.

BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets, TD Securities and Wells Fargo Securities are joint book-running managers. BBVA, BMO Capital Markets, Capital One Securities, Citigroup, Citizens Capital Markets, Credit Suisse, ING, Morgan Stanley and Regions Securities LLC are senior co-managers, and BB&T Capital Markets and Comerica Securities are co-managers.

Summit Midstream Partners LP is based in The Woodlands, Texas.