DENVER--(BUSINESS WIRE)--DCP Midstream Partners, LP (NYSE: DPM) (the Partnership) announced today that its wholly-owned subsidiary, DCP Midstream Operating, LP (the Operating Partnership), intends to issue Senior Notes that will be fully and unconditionally guaranteed by the Partnership.
The Operating Partnership intends to use the net proceeds from the offering to repay amounts outstanding under the Operating Partnership’s existing term loans and for general partnership purposes.
J.P. Morgan Securities LLC, RBS Securities Inc. and SunTrust Robinson Humphrey, Inc. will act as joint book-running managers for the offering. When available, a copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from any of the underwriters by contacting:
|J.P. Morgan Securities LLC|
|383 Madison Avenue|
|New York, New York 10179|
|Attention: Investment Grade Syndicate Desk - 3rd floor|
|Telephone: (212) 834-4533|
|RBS Securities Inc.|
|600 Washington Boulevard|
|Stamford, CT 06901|
|Telephone: (866) 884-2071|
|SunTrust Robinson Humphrey, Inc.|
|3333 Peachtree Road, 11th floor|
|Atlanta, Georgia 30326|
|Attn: Prospectus Department|
|Telephone: (800) 685-4786|
You may also obtain these documents free of charge when they are available by visiting the Securities and Exchange Commission’s website at www.sec.gov.
The senior notes are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may be made only by means of the preliminary prospectus supplement and accompanying prospectus.
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and condensate; and transporting, storing and selling propane in wholesale markets. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and Phillips 66.
This press release contains forward-looking statements as defined under the federal securities laws, including statements regarding the intended use of offering proceeds and other aspects of the offering. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control, including market conditions, customary closing conditions and other factors described in the prospectus supplement and accompanying prospectus for the offering. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Partnership’s actual results may vary materially from what management anticipated, estimated, projected or expected.
Investors are encouraged to closely consider the disclosures and risk factors contained in the Partnership’s reports filed from time to time with the Securities and Exchange Commission and in the prospectus supplement and accompanying prospectus for the offering. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.