EnLink Midstream, LLC (ENLC) announced the pricing of $500 million in aggregate principal amount of its 5.650% senior notes due 2034. The notes will be sold at a price to the public of 99.618% of their face value, with the settlement expected on August 15, 2024, subject to customary closing conditions.
The senior notes will be fully and unconditionally guaranteed on a senior basis by EnLink Midstream Partners, LP (ENLK), a subsidiary of ENLC. EnLink intends to utilize the net proceeds from the offering for general limited liability company purposes, including repaying borrowings under its revolving credit facility and the accounts receivable securitization facility. A portion of these proceeds will also be used to finance the purchase of ENLK’s outstanding Series B Cumulative Convertible Preferred Units, which was previously completed on August 5, 2024.
BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, and RBC Capital Markets, LLC are acting as representatives and joint book-running managers for the offering. A copy of the prospectus supplement and accompanying base prospectus can be obtained by contacting the representatives listed above or visiting the Securities and Exchange Commission’s (SEC) website at www.sec.gov. The senior notes and ENLK’s guarantee will be offered and sold pursuant to an effective shelf registration statement previously filed with the SEC.
Headquartered in Dallas, EnLink Midstream provides integrated midstream infrastructure services for natural gas, crude oil, and natural gas liquids (NGLs), as well as CO2 transportation for carbon capture and sequestration (CCS). The company’s large-scale, cash-flow-generating asset platforms are strategically located in premier production basins and core demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas. EnLink is committed to maintaining financial flexibility and operational excellence to support strategic growth and sustainable value creation.
