By Devika Patel
Knoxville, Tenn., July 29 - Regency Energy Partners LP gave more details about a $200.05 million direct placement of common units in two prospectus supplements filed Tuesday with the Securities and Exchange Commission. The deal was announced on July 25.
The securities are being offered via an effective shelf registration.
The investors will buy 9,020,909 common units.
Of the units, 8,029,909 will be sold at $22.00 apiece for $176.46 million and the remaining 1 million will be sold at $23.59 per unit for $23.59 million.
Settlement is expected Aug. 1.
Proceeds will be used to repay debt under Regency's revolver and to fund upcoming growth opportunities.
Regency is a Dallas-based midstream energy partnership engaged in the gathering, contract compression, processing, marketing and transporting of natural gas and natural gas liquids.
| Issuer: | Regency Energy Partners LP
|
| Issue: | Common units
|
| Amount: | $200,049,998
|
| Units: | 9,020,909
|
| Price: | $22.00 (for 8,020,909 units), $23.59 (for 1 million units)
|
| Warrants: | No
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Stock symbol: | Nasdaq: RGNC
|
| Stock price: | $23.29 at close July 25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
