Core Viewpoint - Summit Midstream Corporation is offering $250 million in additional 8.625% Senior Secured Second Lien Notes due 2029 to repay borrowings and for general corporate purposes [1][2]. Group 1: Offering Details - The Additional Notes will be issued under the same indenture as the existing $575 million of 8.625% Senior Secured Second Lien Notes due 2029 and will have substantially identical terms [1]. - The net proceeds from the Offering will be used to repay a portion of the outstanding borrowings under the asset-based lending credit facility and for general corporate purposes [1]. Group 2: Security and Guarantees - The Additional Notes will be guaranteed on a senior second-priority basis by the Company and certain existing and future subsidiaries [2]. - The Additional Notes will initially be secured on a second-priority basis by the same collateral pledged for the benefit of the Company's lenders under the ABL Facility [2]. Group 3: Regulatory Compliance - The Additional Notes are being offered only to qualified institutional buyers and non-U.S. persons in compliance with relevant regulations [3]. - The offer and sale of the Additional Notes have not been registered under the Securities Act or any state securities laws [3][4]. Group 4: Company Overview - Summit Midstream Corporation focuses on developing, owning, and operating midstream energy infrastructure assets in key unconventional resource basins in the continental United States [5]. - The Company provides natural gas, crude oil, and produced water gathering, processing, and transportation services primarily through long-term, fee-based agreements [5].
Summit Midstream Corporation Announces Proposed Offering of $250 Million of Additional 8.625% Senior Secured Second Lien Notes Due 2029