trending Market Intelligence /marketintelligence/en/news-insights/trending/uLY3AdNWAaSJng4ZJkzmOA2 content esgSubNav
In This List

Rice Midstream to sell $450M units in private placement for midstream asset drop-down

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


Rice Midstream to sell $450M units in private placement for midstream asset drop-down

launched a private placement of 20,930,233 common units for gross proceeds ofabout $450 million, part of which would be used to fund the drop-down ofmidstream assets from Rice EnergyInc.'s pending acquisitionof Vantage Energy LLCand Vantage Energy II LLC.

Afterpaying for the midstream assets, the rest of the net proceeds would be used forgeneral partnership purposes, which may include future drop-downs from RiceEnergy, according to a Sept. 30 news release.

The privateplacement does not hinge on the closing of the acquisition and is expected to closeon Oct. 7, subject to customary closing conditions.

Barclaysand Wells Fargo Securities acted as placement agents for the private placement.