Baker Botts Represents EnLink Midstream, LLC in $500 Million Senior Notes Offering
Deal Description: On August 12, 2024, EnLink Midstream, LLC (NYSE: ENLC) (“ENLC”), announced the pricing of its underwritten public offering of $500 million in aggregate principal amount of its 6.500% Senior Notes due 2030 (the “Notes”) at a price to the public of 99.618% of their face value. The Notes will be fully and unconditionally guaranteed on a senior basis by EnLink Midstream Partners, LP (“ENLK”), a subsidiary of ENLC. The notes offering is expected to close on August 15, 2024, subject to customary closing conditions.
ENLC intends to use the net proceeds from the offering for general limited liability company purposes, including to repay borrowings under the revolving credit facility and the accounts receivable securitization facility, a portion of which were incurred to purchase ENLK’s outstanding Series B Cumulative Convertible Preferred Units on August 5, 2024.
Baker Botts is representing ENLC in the notes offering.
Headquartered in Dallas, EnLink Midstream (NYSE: ENLC) provides integrated midstream infrastructure services for natural gas, crude oil, and NGLs, as well as CO2 transportation for carbon capture and sequestration (CCS). Our large-scale, cash-flow-generating asset platforms are in premier production basins and core demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas. EnLink is focused on maintaining the financial flexibility and operational excellence that enables us to strategically grow and create sustainable value.
Baker Botts Lawyers/Office Involved:
Corporate: Preston Bernhisel (Partner, Dallas); Tala Esmaili (Associate, Dallas); Chelsea Johnson (Associate, Houston); Maddie Boezinger (Associate, Dallas)
Finance: Luke Weedon (Partner, Dallas)
Tax: Steve Marcus (Partner, Dallas)
For more information, please see ENLC’s news release by clicking here.
ABOUT BAKER BOTTS L.L.P.
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 bakerbotts.com.
