Natural gas pipeline operator MarkWest Energy Partners LP said Thursday it is selling 2.9 million common units in a public offering.
MarkWest plans to use net proceeds from the sale to fund its growth capital budget and pay down debt under a revolving credit facility.
The partnership has given Morgan Stanley, the sole book-running manager for the offering, a 30-day option to buy a maximum of 435,000 additional units to cover possible over-allotments.
MarkWest shares sank $1.44, or 7.2 percent, to $18.51 in after-hours trading when the offering was announced. During the regular session, the stock climbed 87 cents, or 4.6 percent, to settle at $19.95.
source: yahoo
MarkWest plans to use net proceeds from the sale to fund its growth capital budget and pay down debt under a revolving credit facility.
The partnership has given Morgan Stanley, the sole book-running manager for the offering, a 30-day option to buy a maximum of 435,000 additional units to cover possible over-allotments.
MarkWest shares sank $1.44, or 7.2 percent, to $18.51 in after-hours trading when the offering was announced. During the regular session, the stock climbed 87 cents, or 4.6 percent, to settle at $19.95.
source: yahoo
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