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Summit Midstream makes excess cash flow offer for $19.33 million 8½% senior secured second-lien notes
By Wendy Van Sickle
Columbus, Ohio, March 27 – Summit Midstream Partners, LP said issuers Summit Midstream Holdings, LLC and Summit Midstream Finance Corp. are offering to purchase up to $19,331,000 of their 8½% senior secured second-lien notes due 2026 at par plus interest using excess cash flow, according to a news release.
The note indenture requires the company to offer to purchase the maximum principal of notes that can be purchased with excess cash flow for a 12-month period ending on Dec. 31, so long as the excess cash flow is at least $5 million.
The offer will expire at 5 p.m. ET on April 24.
If the maximum purchase amount is exceeded, the company will purchase notes tendered on a pro rata basis.
D.F. King & Co., Inc. (800 347-4826, 212 269-5550 or smlp@dfking.com) is the tender agent.
Based in The Woodlands, Tex., Summit is an owner and operator of midstream energy infrastructure.
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