Hiland Partners intends to sell $350 million eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 4 - Hiland Partners, LP and Hiland Partners Finance Corp. plan to price a $350 million offering of eight-year senior notes during the Sept. 10 week, according to a syndicate source.

Bank of America Merrill Lynch, Wells Fargo Securities LLC and RBS Securities Inc. are the joint bookrunners.

J.P. Morgan Securities LLC and US Bancorp are the senior co-managers.

Bank One Southcoast and Comerica Securities are the co-managers.

The Rule 144A with registration rights notes come with four years of call protection and feature a 101% poison put.

Mid-single B credit ratings are expected to be assigned to the notes.

The Enid, Okla., provider of natural gas gathering and processing services plans to use the proceeds, along with recent equity contributions, to pay down its revolver.

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