2013-03-01 00:02:21 -
DCP Midstream Partners Announces Pricing of Upsized Common Unit Offering
DENVER- February 28, 2013 - DCP Midstream Partners, LP (NYSE:DPM) (the
"Partnership") announced today that it has priced an underwritten public
offering of 11,000,000 common units representing limited partner interests at
$40.63 per common unit. The offering is expected to close on March 6, 2013.
The Partnership also granted the underwriters a 30-day option to purchase up to
1,650,000 additional common units.
The Partnership intends to use the net proceeds from this offering, including
the proceeds from any exercise of the underwriters' option
to purchase
additional common units, to repay indebtedness outstanding under its revolving
credit facility and for general partnership purposes.
Wells Fargo Securities, BofA Merrill Lynch, Barclays, Citigroup, Morgan Stanley,
Credit Suisse, Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets
acted as joint book-running managers for the offering. Stifel, Ladenburg
Thalmann & Co. Inc. and BB&T Capital Markets acted as co-managers for the
offering.
When available, a copy of the prospectus supplement and accompanying base
prospectus relating to this offering may be obtained from any of the
underwriters by contacting:
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
cmclientsupport@wellsfargo.com
Phone: (800) 326-5897
BofA Merrill Lynch
222 Broadway
New York, New York 10038
Attn: Prospectus Department
dg.prospectus_requests@baml.com
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (888) 603-5847
barclaysprospectus@broadridge.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (800) 831-9146
batprospectusdept@citi.com
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, New York 10014
Phone: (866) 718-1649
prospectus@morganstanley.com
Credit Suisse
Attn: Prospectus Department
One Madison Avenue
New York, New York 10010
Phone: (800) 221-1037
newyork.prospectus@credit-suisse.com
Deutsche Bank Securities
Attn: Prospectus Group
60 Wall Street
New York, New York 10005-2836
Phone: (800) 503-4611
prospectus.cpdg@db.com
J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (866) 803-9204
RBC Capital Markets
Three World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281-8098
Attn: Equity Syndicate
Phone: (877) 822-4089
You may also obtain these documents free of charge when they are available by
visiting the Securities and Exchange Commission's website at www.sec.gov.
The common units are being offered and will be sold pursuant to an effective
shelf registration statement that was previously filed with the Securities and
Exchange Commission. This press release does not constitute an offer to sell or
the solicitation of an offer to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction. This
offering is being made only by means of a prospectus and related prospectus
supplement.
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership
engaged in the business of gathering, compressing, treating, processing,
transporting, storing and selling natural gas; producing, fractionating,
transporting, storing and selling NGLs and condensate; and transporting, storing
and selling propane in wholesale markets. DCP Midstream Partners, LP is managed
by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP
Midstream, LLC, a joint venture between Spectra Energy Corp. and Phillips 66.
This press release contains forward-looking statements as defined under the
federal securities laws, including statements regarding the intended use of
offering proceeds and other aspects of the common unit offering. Although
management believes that expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove to be correct. In addition, these statements are subject to certain
risks, uncertainties and other assumptions that are difficult to predict and may
be beyond our control, including market conditions, customary offering closing
conditions and other factors described in the prospectus and accompanying
prospectus supplement for the offering. If one or more of these risks or
uncertainties materialize, or if underlying assumptions prove incorrect, the
Partnership's actual results may vary materially from what management
anticipated, estimated, projected or expected.
Investors are encouraged to closely consider the disclosures and risk factors
contained in the Partnership's annual and quarterly reports filed from time to
time with the Securities and Exchange Commission and in the prospectus and
related prospectus supplement. The statements herein speak only as of the date
of this press release. The Partnership undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
DCP Midstream Partners
Media and Investor Relations:
Jonni Anwar, 303-605-1868
or
24-Hour: 303-887-5419
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DCP Midstream Partners LP via Thomson Reuters ONE
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