Boardwalk Pipelines, the wholly owned subsidiary of Boardwalk Pipeline Partners LP (NYSE: BWP) said March 10 that it priced a public offering of an additional $250 million, in aggregate principal amount, of senior notes.
The 4.95% senior notes are due Dec. 15, 2024. They are in addition to $350 million, in aggregate principal amount, of the 4.95% notes due Nov. 26, 2024.
This offering is scheduled to close March 13, the company said.
About $247.1 million in net proceeds is expected, and they will reduce outstanding revolving credit facility borrowings.
Barclays, J.P. Morgan, Citigroup (NYSE: C), Deutsche Bank Securities Inc., MUFG and Wells Fargo Securities LLC are joint book-running managers. BB&T Capital Markets, BBVA, Fifth Third Securities, Goldman Sachs & Co. (NYSE: GS), Mizuho Securities, Morgan Stanley (NYSE: MS), PNC Capital Markets LLC, RBC Capital Markets and UBS Investment Bank are co-managers.
Houston-based Boardwalk Pipeline Partners LP is a domestic-focused midstream MLP.
Recommended Reading
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
New Fortress Energy Sells Two Power Plants to Puerto Rico
2024-03-18 - New Fortress Energy sold two power plants to the Puerto Rico Electric Power Authority to provide cleaner and lower cost energy to the island.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
SilverBow Rejects Kimmeridge’s Latest Offer, ‘Sets the Record Straight’
2024-03-28 - In a letter to SilverBow shareholders, the E&P said Kimmeridge’s offer “substantially undervalues SilverBow” and that Kimmeridge’s own South Texas gas asset values are “overstated.”