EnLink Midstream talks $500 million bullet notes due June 2029 in 5½% area, pricing Thursday

By Paul A. Harris

Portland, Ore., April 4 – EnLink Midstream, LLC talked a $500 million offering of senior bullet notes due June 1, 2029 (expected ratings Ba1/BB+/BBB-) to yield in the 5½% area, according to market sources.

Official talk comes tight to initial guidance in the 5½% to 5¾% area, a trader said.

Books close at 1 p.m. ET Thursday, and the public, quick-to-market deal is set to price shortly thereafter.

Joint active bookrunner RBC Capital Markets LLC will bill and deliver. BMO Capital Markets Corp., SunTrust Robinson Humphrey and Wells Fargo Securities LLC are also joint active bookrunners.

The Dallas-based midstream energy services provider plans to use the proceeds to repay debt and for general corporate purposes.

© 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.