Do More With Reuters

New Issue-MarkWest Energy sells $400 mln 10-yr notes

Fri Apr 11, 2008 10:17pm IST
 
Email | Print | | Single Page
[-] Text [+]
  April 11 (Reuters) - MarkWest Energy Partners LP (MWE.N: Quote, Profile, Research)
and its subsidiary MarkWest Energy Finance Corp on Thursday
jointly sold $400 million of 10-year senior notes in the 144a
private placement market, said market sources on Friday.
  The size of the deal was increased from the originally
planned $250 million.
  JPMorgan, RBC Capital Markets and Wachovia Securities were
the joint bookrunning managers for the sale.
BORROWER: MARKWEST ENERGY PARTNERS LP/
       MARKWEST ENERGY FINANCE CORP
AMT $400 MLN     COUPON 8.75 PCT    MATURITY 4/15/2018
64TYPE SR NTS    ISS PRICE 99.183   FIRST PAY 10/15/2008
MOODY'S B2       YIELD 8.875 PCT    SETTLEMENT 4/15/2008
S&P SINGLE-B     SPREAD 535 BPS     PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS  NON-CALLABLE 5 YEARS*
*NON-CALLABLE UNTIL 4/15/2013. THEN AT 104.375, 102.917,
101.458 AND 100. 3 YEAR EQUITY CLAWBACK 35 PCT AT 108.75.


Photo

Catch the latest news, pictures, stats and live race commentary on our special Formula 1 page.  Full Coverage