Deal Description: On August 16, 2022, EnLink Midstream, LLC (NYSE: ENLC) (“EnLink”), announced the pricing of its upsized offering of $700 million in aggregate principal amount of its 6.500% Senior Notes due 2030 (the “New Notes”). The offering size was increased from the previously announced offering size of $500 million in aggregate principal amount of the New Notes.
EnLink intends to use the net proceeds from this offering, together with existing corporate liquidity, to fund the repurchase of up to $500 million in aggregate principle amount of the 4.40% senior notes due 2024, 4.15% senior notes due 2025 and 4.85% senior notes due 2026 issued by EnLink’s subsidiary, EnLink Midstream Partners, LP, pursuant to tender offers (the “Tender Offers”) that commenced concurrently with the offering of New Notes, to pay fees and expenses incurred in connection with such senior notes repurchases or for general corporate purposes.
Baker Botts is representing EnLink in the notes offering and the Tender Offers.
EnLink Midstream reliably operates a differentiated midstream platform that is built for long-term, sustainable value creation. EnLink’s best-in-class services span the midstream value chain, providing natural gas, crude oil, condensate, and NGL capabilities, and carbon capture, transportation, and sequestration. Its purposely built, integrated asset platforms are in premier production basins and core demand centers, including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink’s strong financial foundation and commitment to execution excellence drive competitive returns and value for its employees, customers, and investors. Headquartered in Dallas, EnLink is publicly traded through EnLink Midstream, LLC (NYSE: ENLC).
Baker Botts Lawyers/Office Involved:
Corporate: Preston Bernhisel (Partner, Dallas); Victor Ochieng (Associate, Dallas); Brendan LeMay (Law Clerk, New York)
Finance: Luke Weedon (Partner, Dallas); Linda Oh (Associate, Dallas)
Tax: Steve Marcus (Partner, Dallas)
For more information, please see EnLink’s news release by clicking here.
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