THE WOODLANDS, Texas, Feb. 14, 2017 /PRNewswire/ -- Summit Midstream Holdings, LLC (the "Company") and Summit Midstream Finance Corp. (the "Co-Issuer," and, together with the Company, the "Co-Issuers"), subsidiaries of Summit Midstream Partners, LP (NYSE: SMLP), announced today the results of their previously announced cash tender offer (the "Tender Offer") to purchase any and all of the Issuers' outstanding 7.50% Senior Notes due 2021 (the "Notes"). As of 5:00 p.m., New York City time, on February 14, 2017 (the "Expiration Time"), $276,774,000 aggregate principal amount of the Notes were validly tendered, or 92.26% of the principal amount of the outstanding Notes. The Issuers expect to accept for payment all such Notes validly tendered and not validly withdrawn in the Tender Offer and expect to make payment for the Notes on February 15, 2017, subject to the Issuers' successful completion of their previously announced debt financing transaction (the "Financing Condition"). Concurrently with the settlement of the Tender Offer, the Issuers expect to exercise their right to optionally redeem any Notes not validly tendered and purchased in the Tender Offer, pursuant to the terms of the indenture governing the Notes.
The terms and conditions of the Tender Offer are described in the Offer to Purchase dated February 8, 2017, and the related Letter of Transmittal and Notice of Guaranteed Delivery (collectively, the "Offer Documents"). BofA Merrill Lynch is serving as the dealer manager for the tender offer. Questions regarding the Tender Offer may be directed to BofA Merrill Lynch at (888) 292-0070 (U.S. toll-free) and (980) 387-5602 (collect). Copies of the Offer Documents may be obtained from the Information Agent for the tender offer, D.F. King & Co., Inc. at (800) 755-7250 (U.S. toll-free) and (212) 269-5550 (collect), via email at email@example.com, or via the following web address: www.dfking.com/smlp.
This press release does not constitute a notice of redemption of the Notes, nor an offer to purchase or a solicitation of an offer to sell any Notes in the Tender Offer. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Tender Offer is required to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of the Issuers by the dealer manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Summit Midstream Partners, LP
SMLP is a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMLP provides natural gas, crude oil and produced water gathering services pursuant to primarily long-term and fee-based gathering and processing agreements with customers and counterparties in five unconventional resource basins: (i) the Appalachian Basin, which includes the Marcellus and Utica shale formations in West Virginia and Ohio; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (iii) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado and Utah, (iv) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; and (v) the Fort Worth Basin, which includes the Barnett Shale formation in Texas. SMLP also owns substantially all of a 40% ownership interest in Ohio Gathering, which is developing natural gas gathering and condensate stabilization infrastructure in the Utica Shale in Ohio. SMLP is headquartered in The Woodlands, Texas, with regional corporate offices in Denver, Colorado and Atlanta, Georgia.
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMLP is contained in its 2015 Annual Report on Form 10-K as updated and superseded by the Current Report on Form 8-K/A filed with the Securities and Exchange Commission on September 1, 2016, and as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMLP undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
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SOURCE Summit Midstream Partners, LP