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Summit Midstream offers to exchange 9.5% series A preferreds
By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – Summit Midstream Partners, LP began an offer to exchange any and all of its 9.5% series A fixed-to-floating rate cumulative redeemable perpetual preferred units on Tuesday, according to a press release.
The company is offering to exchange each preferred unit for 38 common units.
Holders of 46,178, or 32.19%, of the preferred units have agreed to tender their units under a support agreement.
The exchange offer expires at 11:59 p.m. ET on Jan. 12.
D.F. King & Co., Inc. is the information agent (866-811-1442, 212 269-5550, summitmidstream@dfking.com).
American Stock Transfer & Trust Co., LLC is the depositary for the exchange offer (877 248-6417, 718 921-8317).
Summit, based in Houston, is an owner and operator of midstream energy infrastructure assets.
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