Crestwood Midstream Partners LP (CMLP) announced Tuesday that it has priced its public offering of 4.50 million common units representing limited partner interests at $23.90 per unit. Crestwood has granted the underwriters a 30-day option to purchase up to 675,000 additional common units.
The company stated that it intends to use the net proceeds from the offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to reduce the indebtedness outstanding under its revolving credit facility and the Crestwood Marcellus Midstream LLC revolving credit facility, and for general partnership purposes. The amount repaid under Crestwood's revolving credit facility may be reborrowed by Crestwood and used to fund both future acquisitions and growth capital expenditures.
Citigroup, Barclays, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. is acting as the co-manager for the offering.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.