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

MT Newswires Live2024-07-24

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million, or 85% of the $764.5 million outstanding amount of the notes, had been validly tendered and not validly withdrawn in the offer.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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2453078953?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-24 16:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2453078953","market":"hk","top_or_hot":-1,"title":"Summit Midstream Partners Tender Offer Expires With 85% of 2026 Notes Validly Submitted","media":"MT Newswires Live","content":"<html><body><p> <a href=\"https://laohu8.com/S/SMLP\">Summit Midstream Partners</a> (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.</p><p>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$649.8 million, or 85% of the $764.5 million outstanding amount of the notes, had been validly tendered and not validly withdrawn in the offer.</p><p>The two subsidiaries are Summit Midstream Holdings and Summit Midstream Finance.</p><p>The settlement date for the notes will likely be Friday.</p><p>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.</p><p>Price: 37.17, Change: +0.07, Percent Change: +0.19</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Summit Midstream Partners Tender Offer Expires With 85% of 2026 Notes Validly Submitted</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSummit Midstream Partners Tender Offer Expires With 85% of 2026 Notes Validly Submitted\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-24 16:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2453078953","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2453078953","pubTimestamp":1721810663,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Summit Midstream Partners  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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","BK4590":"PTP","SMMF":"Summit Financial Group","BK4144":"石油与天然气的储存和运输","BK4563":"昨日强势股"},"translate_title":"Summit Midstream Partners要约收购到期，2026年票据已有效提交85%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMMF":1,"SMLP":0.9},"content_text":"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","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2453078953"}