Crestwood Equity subsidiary launches senior notes offering (NYSE:CEQP)

Crestwood Midstream, a wholly-owned subsidiary of Crestwood Equity Partners (NYSE:CEQP), has announced a private offering of $500M in aggregate principal amount of unsecured senior notes due 2031. The notes will be guaranteed on a senior unsecured basis by all of Crestwood Midstream's subsidiaries that guarantee its existing notes and the indebtedness under its revolving credit facility. Net proceeds from the offering will be used to repay a portion of borrowings under the facility.

Crestwood Midstream also intends to repay and terminate Crestwood Permian Basin's credit facility with borrowings under the revolving credit facility within 30 days after the closing of the notes offering.