DCP Midstream Partners Announces 4.75M Shares Pricing of Common Unit Offering at $47.42/Share

DCP Midstream Partners, LP

announced today that it has priced an underwritten public offering of 4,750,000 common units representing limited partner interests at $47.42 per common unit. The offering is expected to close on March 7, 2011. The Partnership also granted the underwriters a 30-day option to purchase up to 712,500 additional common units. The Partnership intends to use the net proceeds from this offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to repay indebtedness outstanding under its revolving credit facility and for general partnership purposes.