Howard Midstream Energy Partners, LLC has announced the launch of a $500 million offering of senior notes due 2032 (the “2032 Notes”). The offering will be conducted privately, exempt from registration under the Securities Act of 1933.
Proceeds from the offering are intended for several purposes, including funding the purchase of outstanding 6.75 percent senior notes due 2027 through a tender offer, funding the redemption of remaining 2027 Notes if applicable, repaying outstanding borrowings under the revolving credit facility, and covering associated fees and expenses. Any remaining proceeds will be allocated for general corporate purposes.
The offering of the 2032 Notes and related guarantees will be available only to qualified institutional buyers under Rule 144A and to non-U.S. persons in offshore transactions in compliance with Regulation S under the Securities Act. These securities have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption.
RBC Capital Markets, LLC, MUFG Securities Americas Inc., and TD Securities (USA) LLC are acting as joint book-running managers for the offering.
It’s important to note that this press release does not constitute an offer to purchase or sell the 2032 Notes or any other securities, nor does it imply an offer or sale in any jurisdiction where such actions would be unlawful without registration or qualification under relevant securities laws.
