Access Midstream Partners, L.P. (NYSE:ACMP) today announced that it has priced an upsized underwritten public offering of 16,000,000 common units representing limited partner interests. The Partnership has granted the underwriters a 30-day option to purchase up to 2,400,000 additional common units. The common units were offered to the public at $32.15 per unit. The offering is expected to close on December 18, 2012, subject to customary closing conditions. The Partnership intends to use a portion of the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters’ option to purchase additional common units, to fund a portion of the purchase price of its pending acquisition of Chesapeake Midstream Operating, L.L.C., a midstream gas gathering and processing business owned by Chesapeake Midstream Development, L.L.C., a wholly owned subsidiary of Chesapeake Energy Corporation, and the remainder for general partnership purposes. Citigroup, Barclays, UBS Investment Bank, BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities will act as joint book-running managers for the offering. When available, copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission’s website at www.sec.gov or from the underwriters of the offering as follows:
- Citigroupc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York firstname.lastname@example.orgTel: (800) 831-9146
- Barclaysc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York email@example.comTel: (888) 603-5847
- UBS Investment BankAttn: Prospectus Specialist299 Park AvenueNew York, New York 10171Tel: (877) 827-6444, ext. 561-3884
Access Midstream Partners, L.P. (NYSE:ACMP) is the industry’s largest gathering and processing master limited partnership as measured by throughput volume and owns, operates, develops and acquires natural gas gathering systems and other midstream energy assets. Headquartered in Oklahoma City, the Partnership's operations are focused on the Barnett Shale, Haynesville Shale, Marcellus Shale and Mid-Continent regions of the U.S.This press release includes forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. They include but are not limited to our business strategy and plans and objectives for future operations as well as our future financial and operating results. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this release, and we undertake no obligations to update this information. Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to be correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in our 2011 Annual Report on Form 10-K and our other SEC filings.