Enable Midstream Partners priced an offering of $550 million of its 4.150% senior notes due 2029, priced at 99.821% of their face value, according to a Sept. 4 news release.
Enable Midstream would use the net proceeds to fund the repayment at maturity of Enable Oklahoma Intrastate Transmission LLC's $250.0 million of 6.25% senior notes due March 2020, repay Enable Midstream's outstanding debt of $200 million under its 2019 term loan agreement and pay down debt under its commercial paper program.
While the repayment of Enable Oklahoma's notes is pending, Enable Midstream would temporarily repay the debt under its commercial paper program.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. acted as joint book-running managers for the offering, which is expected to close Sept. 13, subject to customary closing conditions.
Enable Midstream owns, operates and develops natural gas and crude oil infrastructure assets.
