DT Midstream Announces Pricing of Offering of Senior Secured Notes

Core Viewpoint - DT Midstream, Inc. has announced a $650 million offering of 5.800$650 million of Senior Secured Notes with a maturity date in 2034 [1]. - The Notes will be secured by a first priority lien on certain assets of DT Midstream and its subsidiaries [1]. - The offering is expected to close on December 6, 2024, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the Notes will be used alongside funds from a recent common stock offering, borrowings under a revolving credit facility, and cash on hand [2]. - The funds will specifically finance the acquisition of equity interests in Guardian Pipeline, L.L.C., Midwestern Gas Transmission Company, and Viking Gas Transmission Company from ONEOK Partners Intermediate Limited Partnership and Border Midwestern Company [2]. Group 3: Company Overview - DT Midstream operates natural gas interstate and intrastate pipelines, storage, and gathering systems, serving utilities, power plants, and large industrial customers across the U.S. and Canada [5]. - The company aims to achieve net zero greenhouse gas emissions by 2050, with a target of reducing carbon emissions by 30% by 2030 [5].