Chesapeake Arranges $1 bln Loan, Buying Back Notes
Chesapeake Energy Corp, the second-largest U.S. natural gas producer, said on Monday that it had arranged a $1 billion 5-year term loan that it would use to buy back senior notes due between 2017 and 2038. The company, whose total debt stood at about $8.68 billion as of June 30, said it had commenced tender offers to buy back $500 million of convertible senior notes due 2037 and 2038. The company said…
Genesis to buy Enterprise U.S. GoM Pipelines
Pipeline company Genesis Energy LP said it would buy Enterprise Products Partners LP's Gulf of Mexico pipelines and services business for about $1.5 billion to expand its offshore pipelines business. Enterprise said the sale will help fund asset purchases in the Eagle Ford and Permian basin in Texas. The offshore assets being acquired include Enterprise's stake in nine crude oil pipeline systems with more than 1,100 miles of pipeline and nine natural gas pipeline systems totaling about 1,200 miles.
ETP Prices $2.5 Billion of Senior Notes
Energy Transfer Partners, L.P. (ETP) announced on March 6 the pricing of $1 billion aggregate principal amount of its 4.050% senior notes due 2025, $500 million aggregate principal amount of its 4.9% senior notes due 2035 and $1 billion aggregate principal amount of its 5.15% senior notes due 2045, at a price to the public of 99.918%, 99.81% and 99.772%, respectively, of their face value. The sale of the senior notes is expected to settle on March 12, 2015, subject to customary closing conditions.
Ensco Announces Cash Tender Offer
Ensco plc announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5). The tender offer is being made pursuant to an Offer to Purchase dated today and a related Letter of Transmittal and Notice of Guaranteed Delivery, which set forth the terms and conditions of the tender offer. As of March 4, 2015, the aggregate principal amount of the notes outstanding is $1.0 billion.
GasLog Partners Announce Closing of its IPO
GasLog Partners LP, an international owner, operator and manager of LNG carriers, today announced the closing of its initial public offering of 9,660,000 common units representing limited partner interests (the “common units”), including 1,260,000 common units issued upon the exercise in full by the underwriters of their option to purchase additional units. The public offering price was $21.00 per common unit.
