Summit Midstream Partners announces IPO

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Deal Participants:
IPO Company: Summit Midstream Partners View Profile Charts Homepage
Deal Financials:
Total Cash Raised : $302 million

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Announced/Filed: Aug 22, 2012


(Reuters) - Summit Midstream Partners LP, which provides natural gas gathering and compression services, filed with U.S. regulators on Tuesday to raise up to $301.9 million in an initial public offering of its common units.

The Dallas-based company plans to use part of the proceeds from the IPO to repay debt, it said in a filing with the U.S. Securities and Exchange Commission.

Summit Midstream Partners, which counts Encana Corp (ECA.TO) and Chesapeake Energy Corp (CHK.N) among its customers, has applied to list its common units on the New York Stock Exchange under the symbol "SMLP."

Barclays Capital, BofA Merrill Lynch, Goldman Sachs and Morgan Stanley are underwriting the offering.

Summit Midstream Partners is owned by GE Energy Financial Services and Energy Capital Partners, a private equity firm focused on investing in North America's energy infrastructure.

The filing did not reveal how many units the company plans to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Deal Links:
Banking Representation:
IPO Lead Underwriter: Barclays and BoA Merrill Lynch
Legal Representation:
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Edit History:
Aug 22 '12
This version submitted by howmania