Atlas Pipeline driving by with $325 million 8.5-year senior notes; pricing expected Tuesday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., May 7 - Atlas Pipeline Partners, LP and Atlas Pipeline Finance Corp. are planning to sell $325 million 8.5-year senior notes (expected ratings B2/B+) during Tuesday's session, according to a market source.

An investor call is scheduled for 11 a.m. ET.

Citigroup Global Markets Inc. is the left bookrunner.

Wells Fargo Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

ABN Amro and Sovereign are the co-managers for the Rule 144A and Regulation S with registration rights deal.

The notes will be non-callable for three years.

Proceeds will be used to repay outstanding amounts under a credit facility, which will be used to partially fund the $1 billion purchase price of the TEAK Midstream LLC acquisition, and for general corporate purposes.

Atlas Pipeline is a Moon Township, Pa.-based provider of gas gathering, compression, processing and treating services.

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