Enable Midstream Partners, LP (NYSE:ENBL) (the “Partnership”) today
announced that it has priced an underwritten public offering of
10,000,000 common units representing limited partner interests at a
public offering price of $14.00 per common unit. In connection with the
offering, the Partnership and Enogex Holdings LLC, a selling unitholder,
granted the underwriters a 30-day option to purchase up to an additional
1,500,000 common units. The Partnership expects the offering to close on
November 29, 2016, subject to customary closing conditions.
The Partnership expects to receive net proceeds of approximately $136
million (or approximately $137 million if the underwriters exercise in
full their option to purchase additional common units) after deducting
underwriting discounts and estimated offering expenses. The Partnership
intends to use the net proceeds from the offering for general
partnership purposes. The Partnership will not sell any common units
pursuant to any exercise of the underwriters’ option to purchase
additional common units until such exercise exceeds 1,424,281 common
units.
Citigroup and Wells Fargo Securities are acting as joint bookrunners for
the offering, and Deutsche Bank Securities and J.P. Morgan are acting as
joint lead managers for the offering. Copies of the prospectus
supplement and accompanying base prospectus relating to the offering may
be obtained, free of charge, on the Securities and Exchange Commission’s
website at www.sec.gov
or by sending a request to:
|
|
|
|
|
|
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
Telephone: (800) 831-9146
|
|
|
Wells Fargo Securities
375 Park Avenue
New York, NY 10152
Attn: Equity Syndicate Dept.
e-mail: cmclientsupport@wellsfargo.com
phone: 1-800-326-5897
|
|
|
|
|
|
The common units are being offered and will be sold pursuant to an
effective shelf registration statement that was previously filed with
the Securities and Exchange Commission. This news release does not
constitute an offer to sell or the solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
and related prospectus supplement meeting the requirements of Section 10
of the Securities Act of 1933, as amended.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable Midstream Partners is a publicly traded master limited
partnership. The Partnership owns, operates and develops strategically
located natural gas and crude oil infrastructure assets. The
Partnership’s assets include approximately 12,500 miles of gathering
pipelines, 14 major processing plants with approximately 2.5 billion
cubic feet per day of processing capacity, approximately 7,900 miles of
interstate pipelines (including Southeast Supply Header, LLC of which
the Partnership owns 50%), approximately 2,200 miles of intrastate
pipelines and eight storage facilities comprising 85.0 billion cubic
feet of storage capacity.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the
meaning of the securities laws. All statements, other than statements of
historical fact, regarding the plans and objectives of management,
including the closing of this offering and the use of proceeds
therefrom, are forward-looking statements. These statements often
include the words “could,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” “forecast” and similar expressions and
are intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on the Partnership’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of future
events. The Partnership assumes no obligation to and does not intend to
update any forward-looking statements included herein. When considering
forward-looking statements, you should keep in mind the risk factors and
other cautionary statements described under the heading “Risk Factors”
included in our SEC filings. The Partnership cautions you that these
forward-looking statements are subject to all of the risks and
uncertainties, most of which are difficult to predict and many of which
are beyond its control, incident to the ownership, operation and
development of natural gas and crude oil infrastructure assets. These
risks include, but are not limited to, contract renewal risk, commodity
price risk, environmental risks, operating risks, regulatory changes and
the other risks described under “Risk Factors” in our SEC filings.
Should one or more of these risks or uncertainties occur, or should
underlying assumptions prove incorrect, the Partnership’s actual results
and plans could differ materially from those expressed in any
forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161122006219/en/
Copyright Business Wire 2016
