Summit Midstream Corporation Announces Pricing of Offering of $250 Million of Additional 8.625% Senior Secured Second Lien Notes Due 2029
Portfolio Pulse from
Summit Midstream Corporation announced the pricing of a $250 million offering of additional 8.625% Senior Secured Second Lien Notes due 2029. These notes will be issued at 103.375% of par and will form a single series with the existing $575 million notes.
January 07, 2025 | 10:45 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Summit Midstream Corporation has successfully priced a $250 million offering of additional 8.625% Senior Secured Second Lien Notes due 2029 at 103.375% of par. This move is likely to improve the company's liquidity position.
The successful pricing of the additional notes at a premium indicates strong demand and confidence in Summit Midstream's financial stability. This should enhance the company's liquidity and potentially improve its credit profile, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100