Atlas Pipeline Prices $400 Mln Senior Note Offering; Shares Lose 1% in Late Session

By Staff,

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Atlas Pipeline Partners ( APL ) and its Atlas Pipeline Finance Corporation unit have priced a private offering of $400 million aggregate principal amount of 4.75% senior notes due 2021.

The amount of the offering was boosted from the previously announced $325 million. The notes were priced at par and the proceeds will be used to reduce obligations under the company's revolving credit facility, and for general partnership purposes. The sale of the notes is expected to settle on May 10.

Shares of APL, a provider of natural gas gathering and processing services in the U.S., are down 0.60% to $36.30 in after-hours trade, but are still in the high end of the stock's 52-week range of $27.32 - $37.67.

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

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This article appears in: Investing Commodities
Referenced Stocks: APL

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