Access Midstream to repay revolver borrowings via notes offering

By Tali Rackner

Norfolk, Va., March 4 - Access Midstream Partners, LP and ACMP Finance Corp. plan to use the proceeds from a senior notes offering to repay borrowings outstanding under their revolving credit facility, including amounts incurred to fund the purchase price of and certain expenses related to its MidCon acquisition, according to a 424B2 filing with the Securities and Exchange Commission.

Proceeds will also be used for general partnership purposes, including funding working capital, the partnership's capital expenditure program and acquisitions.

As of Feb. 28, there was $571.5 million of borrowings outstanding under the revolver that matures on May 2018.

Access Midstream is an Oklahoma City-based owner, operator and developer of natural gas midstream assets.

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