New Issue: Hiland Partners prices $225 million 5½% eight-year notes at par

By Paul A. Harris

Portland, Ore., May 9 - Hiland Partners, LP priced a $225 million issue of eight-year senior notes (B2/B/) in a quick-to-market transaction on Friday, according to a syndicate source.

BofA Merrill Lynch, Wells Fargo Securities LLC, RBS Securities Inc. and U.S. Bancorp Investments Inc. were the joint bookrunners.

Hiland Partners is an Enid, Okla.-based private energy partnership focused on providing midstream services to oil and gas producers in the Williston Basin, Bakken Shale and Mid-Continent regions in the United States.

Issuer:	Hiland Partners, LP
Amount:	$225 million
Maturity:	May 15, 2022
Securities:	Senior notes
Bookrunners:	BofA Merrill Lynch, Wells Fargo Securities LLC, RBS Securities Inc., U.S. Bancorp Investments Inc.
Senior co-managers:	BBVA, J.P. Morgan Securities LLC
Co-managers:	Capital One South Coast, Comerica Securities
Coupon:	5½%
Price:	Par
Yield:	5½%
Spread:	313 bps
Call protection:	Three years
Trade date:	May 9
Settlement date:	May 14
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A with registration rights
Marketing:	Quick to market

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