EnLink Midstream Reports Redemption Of Its 6.000% Series C Fixed-to-floating Rate Cumulative Redeemable Perpetual Preferred Units
Portfolio Pulse from Benzinga Newsdesk
EnLink Midstream (ENLC) announced the redemption of its 6.000% Series C Fixed-to-floating Rate Cumulative Redeemable Perpetual Preferred Units. The redemption will be funded through borrowings under its revolving credit facility.
September 17, 2024 | 9:15 pm
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NEUTRAL IMPACT
EnLink Midstream is redeeming its 6.000% Series C Preferred Units, using its revolving credit facility for funding. This move may impact the company's credit and equity structure.
The redemption of preferred units affects ENLC's financial structure, potentially impacting its credit and equity. However, the use of revolving credit suggests manageable liquidity, leading to a neutral short-term impact.
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IMPORTANCE 70
RELEVANCE 100