MarkWest Energy Partners Announces $1B Senior Notes Due 2023
MarkWest Energy Partners, L.P. (NYSE: MWE) (the “Partnership”) and its subsidiary MarkWest Energy Finance Corporation announced today that, subject to market conditions, they intend to commence a public offering of $1,000,000,000 in aggregate principal amount of senior unsecured notes due 2023 (the “Notes”).
The Partnership intends to use a portion of the net proceeds from the Notes offering, together with cash on hand resulting in part from its recent equity offerings, to fund the redemption of all of its outstanding 8.75% Senior Notes due 2018, and a portion of its 6.5% Senior Notes due 2021 and 6.25% Senior Notes due 2022, with the balance of such proceeds to be used to fund the Partnership's capital expenditure program, for general working capital and for other general partnership purposes. Any redemption of these series of senior notes will be made by separate notice to holders of such senior notes and nothing in this press release is intended to constitute such notice.
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