Blue Racer Midstream, LLC Announces Pricing of $1,000,000,000 Offering of Senior Notes
14 Mayo 2024 - 4:57PM
Business Wire
Blue Racer Midstream, LLC (“Blue Racer”) and its wholly owned
subsidiary Blue Racer Finance Corp. today announced the pricing of
the previously announced offering (the “Notes Offering”) of $500
million aggregate principal amount of their senior notes due 2029
(the “2029 senior notes”) and $500 million aggregate principal
amount of their senior notes due 2032 (the “2032 senior notes” and,
collectively with the 2029 senior notes, the “senior notes”). The
2029 notes, which priced at par, will mature on July 15, 2029 and
will pay an annual interest rate of 7.000%. The 2032 notes, which
priced at par, will mature on July 15, 2032 and will pay an annual
interest rate of 7.250%.
The Notes Offering is expected to close on May 28, 2024, subject
to customary closing conditions. Blue Racer intends to use the net
proceeds from the sale of the senior notes to repay existing
indebtedness, including but not limited to the redemption of all
$600 million of its 7.625% Senior Notes due 2025 (the “2025 Notes”
and such redemption, the “Redemption”) and repayment of borrowings
under its revolving credit facility, to pay associated fees and
expenses, and for general corporate purposes. The Redemption will
be made solely pursuant to a conditional notice of redemption that
was delivered pursuant to the indenture governing the 2025 Notes,
and nothing contained in this release constitutes a notice of
redemption of the 2025 Notes.
The senior notes have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”), or any state
securities laws, and unless so registered, may not be offered or
sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and applicable state securities laws. This
announcement shall not constitute an offer to sell or a
solicitation of an offer to buy any of the senior notes, except as
required by law.
Forward-Looking Statements
This press release may include “forward-looking statements.” All
statements, other than statements of historical fact, included in
this press release that address activities, events or developments
that Blue Racer expects, believes or anticipates will or may occur
in the future are forward-looking statements. These statements are
based on certain assumptions made by Blue Racer based on its
experience and perception of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in
their entirety by this cautionary statement. Blue Racer undertakes
no obligation and does not intend to update these forward-looking
statements to reflect events or circumstances occurring after the
issuance of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514979397/en/
Brett Krieg, Assistant Treasurer, The Williams Companies Inc.
918.573.4614 | Brett.Krieg@williams.com