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Summit Midstream Partners sets terms for $250 million US IPO

By Renaissance Capital,  September 20, 2012, 09:00:21 AM EDT

Summit Midstream Partners, an LP focused on owning and operating midstream energy infrastructure, announced terms for its IPO on Thursday. The Dallas, TX-based company plans to raise $250 million by offering 12.5 million units at a price range of $19 to $21. At the midpoint of the proposed range, Summit Midstream Partners would command a fully diluted market value of $996 million.

Summit Midstream Partners, which was founded in 2009 and booked $138 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol SMLP. Barclays, BofA Merrill Lynch, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.




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: News Headlines, IPOs

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