$550 million in notes offered by Enable Midstream

 

Oklahoma City’s Enable Midstream Partners, LP announced the offering of $550 million in senior notes.

The offering includes 4.150% senior notes due 2029 at a price to the public of 99.821% of face value. Enable plans to close the offering on Sept. 13.

Enable intends to use the net proceeds from the offering to fund the repayment at maturity of Enable Oklahoma Interstate Transmission, LLC’s $250.0 million aggregate principal amount of 6.25% senior notes due March 2020. It also intends to repay $200 million of outstanding borrowings under Enable’s 2019 term loan agreement and to repay amounts outstanding under Enable’s commercial paper program.

Pending the repayment of the EOIT Senior Notes at maturity, Enable intends to use such portion of the net proceeds to temporarily repay amounts outstanding under its commercial paper program.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are acting as joint book-running managers for the offering.