News Releases

Baker Botts Represents Underwriters to DCP Midstream, LP in Senior Notes Offering


Deal Description: On November 4, 2021, DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced the pricing of an offering by its wholly owned subsidiary, DCP Midstream Operating, LP (the “Operating Partnership”), of $400 million aggregate principal amount of 3.250% senior notes due 2032. The notes will be fully and unconditionally guaranteed by the Partnership. The offering is expected to close on November 19, 2021, subject to the satisfaction of customary closing conditions.

The Operating Partnership intends to use the net proceeds from the offering for the repayment of indebtedness under its revolving credit facility and for general partnership purposes.

The underwriters include J.P. Morgan Securities LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC, Barclays Capital Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc. and TD Securities (USA) LLC as joint book-running managers for the offering. PNC Capital Markets LLC, Regions Securities LLC, SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc. are acting as co-managers for the offering.

Baker Botts Lawyers/Office Involved:

Corporate: Josh Davidson (Partner, Houston); Carina Antweil (Partner, Houston), Parker Hinman (Associate, Houston), Michael Donnellan (Associate, Houston) and Thomas Blackwell (Associate, Houston)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit


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