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DCP Midstream announced an upsized offering of $500 million in 5.625% senior notes due 2027, priced at 100% of face value. The offering is fully guaranteed by the Partnership and is expected to close on June 24, 2020. Proceeds from the offering will be used for general partnership purposes, including repaying debt and funding capital expenditures. This move strengthens DCP’s financial position and supports its operational activities in the natural gas sector, where it is one of the largest producers and marketers of natural gas liquids.
DCP Midstream has initiated a public offering of $400 million in senior notes due 2027, fully guaranteed by the Partnership. The net proceeds will be allocated towards general partnership purposes, including repaying revolving credit and funding capital expenditures. Major financial institutions such as BofA Securities and Wells Fargo are leading the offering. The notes are part of an effective shelf registration statement with the SEC. Investors are encouraged to review the accompanying prospectus for detailed information.