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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 12:40 PM

Slide #255. Atlas Pipeline Partners, L.P. Preferred Stock Offering

Company: Atlas Pipeline Partners, L.P. (APL)
Date announced: 3/12/2014
Shares Offered: 4,400,000
Date of Pricing: 3/12/2014
Preferred Stock Offering Details: Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL," "Atlas Pipeline," or the "Partnership") today announced that it has commenced a public offering of Class E Cumulative Redeemable Perpetual Preferred Units ("Class E Preferred Units") pursuant to an effective shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (the "SEC"). Morgan Stanley & Co. LLC and UBS Securities LLC will act as joint book-running managers, Stifel, Nicolaus & Company, Incorporated will act as joint lead manager and MLV & Co. LLC will act as co-manager for the offering. The Partnership expects to grant the underwriters a 30-day option to purchase additional Class E Preferred Units. The Partnership intends to use the net proceeds from the offering to reduce borrowings outstanding under its revolving credit facility and for general partnership purposes. - updated 3/13 - Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL," "Atlas Pipeline," or the "Partnership") today announced the pricing of its public offering of 4,400,000 8.25% Class E Cumulative Redeemable Perpetual Preferred Units ("Class E Preferred Units") at a price of $25.00 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 660,000 Class E Preferred Units from the Partnership at the public offering price less the underwriting discount. Distributions will be payable on the Class E Preferred Units at an initial rate of 8.25% per annum of the stated liquidation preference of $25.00. The offering is expected to close on March 17, 2014, subject to customary closing conditions.

Atlas Pipeline Partners is a provider of natural gas gathering, processing and treating services primarily in the Anadarko, Arkoma and Permian Basins located in the southwestern and mid-continent regions of the U.S. and in the Eagle Ford Shale play in south Texas; a provider of natural gas gathering services in the Appalachian Basin in the northeastern region of the U.S. and a provider of natural gas liquid transportation services in the southwestern region of the U.S. Co.'s general partner, Atlas Pipeline Partners GP, LLC, manages Co.'s operations and activities. Co. conducts its business through two segments: Gathering and Processing; and Transportation, Treating and Other.

Preferred: APL.PRE


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Name: Atlas Pipeline Partners LP
Sector: Oil & Gas Equipment & Services

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