Summit Midstream Partners Tender Offer Expires With 85% of 2026 Notes Validly Submitted

MT Newswires Live07-24

Summit Midstream Partners (SMLP) said late Tuesday a cash tender offer from two subsidiaries to purchase all outstanding 8.5% senior secured second lien notes due 2026 expired on Tuesday.

The company said about $649.8 million, or 85% of the $764.5 million outstanding amount of the notes, had been validly tendered and not validly withdrawn in the offer.

The two subsidiaries are Summit Midstream Holdings and Summit Midstream Finance.

The settlement date for the notes will likely be Friday.

The issuers intend to fund the purchase price with net proceeds Summit Midstream Holdings receives from the sale of $575 million of its 8.625% senior secured second lien notes due 2029.

Price: 37.17, Change: +0.07, Percent Change: +0.19

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