TULSA, Okla., June 3, 2013 (GLOBE NEWSWIRE) -- SemGroup ® Corporation (NYSE:SEMG) (SemGroup) today announced that it intends to offer, subject to market and other conditions, $350 million in aggregate principal amount of senior unsecured notes due 2021 (the Notes) for sale in a private placement to eligible purchasers.
We intend to use the net proceeds of this offering to fund the pending acquisition (the Acquisition) of all the outstanding equity interests in Mid-America Midstream Gas Services, L.L.C., a subsidiary of Chesapeake Energy Corporation, to repay amounts borrowed under SemGroup's corporate revolving credit facility and for general corporate purposes, including capital expenditures. If, for any reason, the Acquisition does not close, we intend to use the net proceeds of this offering for general corporate purposes, including capital expenditures. The Acquisition is expected to close by the third quarter of 2013 and is conditioned upon certain closing conditions.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The Notes and the guarantees thereof have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes are expected to be offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside of the United States pursuant to Regulation S under the Securities Act. This press release is being issued in accordance with Rule 135c under the Securities Act.
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