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Rice Midstream Partners to sell $100M of common units

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Rice Midstream Partners to sell $100M of common units

Rice MidstreamPartners LP has entered into an agreement to sell up to $100 millionof its common units through a syndicate of bank managers.

The partnership may also sell the units to any manager from timeto time, with the price to be agreed upon on the time of the sale.

The sale of the units would be made through the NYSE, other nationalsecurities exchange, a trading facility of a national securities association, oran alternative trading system, at market prices and in block transactions or asotherwise agreed by Rice Midstream and one or more of the managers.

Rice Midstream plans to use the net proceeds from the sales forgeneral partnership purposes, including repayment of debt, acquisitions and capitalexpenditures, according to a Form 8-K filed May 9.

Wells Fargo Securities LLC, Barclays Capital Inc., RBC CapitalMarkets LLC and SunTrust Robinson Humphrey Inc. acted as managers under the agreement.