Regency Energy Partners LP (NYSE: RGP) and Regency Energy Finance Corp. extended the expiration date of a senior note exchange offer, the company said June 13.
The offer now expires on June 30, Regency said.
Regency offered to exchange $550 million, in aggregate principal amount, of 8.375% notes due 2019—offered by Eagle Rock Energy Partners LP (NASDAQ: EROC) and Eagle Rock Energy Finance Corp.—for the same amount of its own 8.375% notes due the same year, Regency said.
Regency made the offer in connection with its pending acquisition of Eagle Rock’s midstream business, the company said. The acquisition’s completion is one of the conditions to close the note exchange, the company added.
On June 12, Regency had received tenders for about 79.02% of Eagle Rock’s notes, the company noted.
Regency Energy Partners is a midstream-focused MLP based in Dallas. Regency Energy Finance Corp. is owned by Energy Transfer Equity LP (NYSE: ETE), also based in Dallas.
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