Referenced Stocks

Access Midstream Commences $1.4 Billion Offering of Senior Notes Due 2023; Shares Down 3%

By MT Newswires,  December 12, 2012, 11:14:58 AM EDT

Access Midstream Partners L.P. ( ACMP ) is down 3.4% after commencing a public offering of $1.4 billion of senior notes due 2023.

ACMP intends to use the net proceeds of the offering to fund a portion of the purchase price for its pending acquisition of Chesapeake Midstream Operating LLC, a midstream gas gathering and processing business owned by Chesapeake Energy Corp. (CKE) subsidiary, Chesapeake Midstream Development, as well as to repay a portion of the outstanding balance under its revolving credit facility and for general partnership purposes.

ACMP is trading at $32.88 in a 52-week range of $22.50 - $37.57. Shares have increased 25% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ACMP



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