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Regency Energy to repay revolver debt with equity proceeds
By Sara Rosenberg
New York, July 25 - Regency Energy Partners LP plans to repay borrowings under its revolving credit facility using proceeds from raising $200 million of common equity, according to a news release.
Remaining proceeds will be used to fund upcoming growth opportunities.
Under the offering, Regency will issue about 9 million common units to affiliates of GE Energy Financial Services, funds managed by Kayne Anderson Capital Advisors, LP, RCH Energy Partners, Swank Energy Income Advisors, LP, Lehman Brothers MLP Opportunity Fund, LP, and certain other institutional investors.
The transaction is expected to close on Aug. 1.
Regency Energy is a Dallas-based midstream energy partnership.
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