Crosstex Energy Announces Public Offering of 8.8M Common Units
Crosstex Energy, L.P. (NASDAQ: XTEX) today announced the commencement of an underwritten public offering of 8,800,000 common units representing limited partner interests of the Partnership.
The Partnership will also grant the underwriters a 30-day option to purchase up to 1,320,000 additional common units. The Partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters' exercise of their option, for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion and the Riverside facility expansion project. Pending such use, the Partnership will reduce borrowings under its existing credit facility.
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