Copano Announces Pricing of $150 Million of 7.125% Senior Notes Due 2021
Copano Energy, L.L.C. (NASDAQ: CPNO) and its subsidiary Copano Energy Finance Corporation today announced that they have priced a public offering of an additional $150,000,000 in aggregate principal amount of their 7.125% senior unsecured notes due 2021 (the "Additional Notes"). The price to investors will be 102.25% of the principal amount, for a yield to worst of 6.721% with respect to the Additional Notes. The offering is scheduled to close on February 7, 2012, subject to customary closing conditions.
Copano intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving credit facility and expects to use the increased borrowing capacity as needed for capital projects, acquisitions, hedging, working capital and general corporate purposes.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.