DT Midstream, Inc. announced on November 21, 2024, the pricing of an offering of $650 million of 5.800% Senior Secured Notes due 2034. These notes will be issued by DT Midstream and guaranteed by certain of its subsidiaries.
The notes are secured by a first priority lien on specific assets of DT Midstream and its subsidiary guarantors, which also secure the company's existing credit facilities and senior secured notes. The offering is anticipated to close on December 6, 2024, subject to customary closing conditions.
The net proceeds from the sale of these notes, combined with funds from its recently completed common stock offering, borrowings under its revolving credit facility, and cash on hand, are intended to finance the $1.2 billion acquisition of Guardian Pipeline, Midwestern Gas Transmission Company, and Viking Gas Transmission Company from ONEOK.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.