EnLink Midstream Announces Proposed Offering of Additional Senior Notes Due 2030

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EnLink Midstream, LLC has announced its plan to offer an additional $300 million of senior notes due 2030, subject to market conditions. These notes will be issued under the same indenture as the $700 million of senior notes due 2030 that EnLink previously issued in August 2022, and will be treated as a single class of debt securities. The new notes will have the same terms as the initial notes, except for the issue date and offering price. Both the initial notes and the additional notes will be fully and unconditionally guaranteed by EnLink Midstream Partners, LP, a subsidiary of EnLink, on a senior basis.

EnLink plans to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility. This move is intended to help the company reduce its debt and improve its liquidity position. By doing so, EnLink aims to better position itself to navigate the challenges of the current market environment and pursue growth opportunities in the future.

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