Crestwood Equity Partners LP and its general partner Crestwood Equity GP LLC agreed to sell, from time to time, up to $250 million of Crestwood Equity Partners common units, according to an Aug. 4 SEC filing.
Sales of the units, if any, will be made through ordinary broker transactions, to or through a market maker or directly on or through an electronic communication network, a "dark pool" or any similar market venue or as otherwise agreed by the partnership and one or more of the offering's managers. The common units will be issued pursuant to Crestwood's shelf registration statement.
Crestwood intends to use net proceeds from the offering for general partnership purposes, which may include debt repayment, acquisition funding, capital expenditures and additions to working capital.
Wells Fargo Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC are each acting managers for the offering.