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 Buy (2.62 out of 4)
100th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, February 12, 4:27 AM
Slide #250. EnLink Midstream Partners, LP — Preferred Stock Offering
Company: |
EnLink Midstream Partners, LP (ENLK) |
Date announced: |
9/14/2017 |
Shares Offered: |
400,000 |
Date of Pricing: |
9/14/2017 |
Price Per Share: |
$1,000.00 |
Preferred Stock Offering Details: |
EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership) today announced that it has priced an underwritten public offering of 400,000 of its 6.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the Preferred Units) at a price of $1,000 per unit. Distributions on the Preferred Units will be payable from and including the date of original issue to, but not including, December 15, 2022, at a rate of 6.000% per annum of the stated liquidation preference of $1,000. On and after December 15, 2022, distributions on the Preferred Units will accumulate at a percentage of the $1,000 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 4.11%. The offering is expected to close on or about September 21, 2017, subject to the satisfaction of customary closing conditions. |
EnLink Midstream Partners is primarily focus on providing midstream energy services, including: gathering, compressing, treating, processing, transporting, storing and selling natural gas; fractionating, transporting, storing, exporting and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading and selling crude oil and condensate. Co.'s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP. Co.'s assets are included in five primary segments: Texas; Oklahoma; Louisiana; Crude and Condensate; and Corporate.
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