Noble Midstream Partners LP (“Noble Midstream”) today announced
the pricing of its initial public offering of 12,500,000 common
units representing limited partner interests at a public offering
price of $22.50 per common unit. Noble Midstream was initially
offering the common units at an estimated price range of $19.00 to
$21.00 per common unit. In addition, Noble Midstream has granted
the underwriters a 30-day option to purchase up to an additional
1,875,000 common units at the initial public offering price. The
common units are expected to begin trading on September 15, 2016 on
the New York Stock Exchange under the ticker symbol “NBLX.” The
offering is expected to close on September 20, 2016, subject to
customary closing conditions.
Upon closing, the public will hold common units approximating
39.3% of the limited partner interest in Noble Midstream, or
approximately 45.2% if the underwriters exercise, in full, their
option to purchase additional common units. Noble Energy, Inc.
(“Noble Energy”) and certain of its subsidiaries will own the
remaining limited partner interest in Noble Midstream and all of
its incentive distribution rights and will own Noble Midstream’s
general partner.
Noble Midstream intends to use proceeds, net of underwriting
discounts and commissions, the structuring fee and estimated
offering expenses, of approximately $259.7 million to, among other
uses, make a distribution of approximately $257.4 million to Noble
Energy.
Barclays, Baird, J.P. Morgan, BofA Merrill Lynch, Citigroup,
Deutsche Bank Securities, DNB Markets, Mizuho Securities, MUFG and
Wells Fargo Securities are acting as book-running managers for the
offering and Barclays and Baird are acting as structuring fee
agents for the offering. The offering of these securities is being
made only by means of a written prospectus meeting the requirements
of Section 10 of the Securities Act of 1933. A copy of the
preliminary prospectus may be obtained from:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
barclaysprospectus@broadridge.com
Baird
Attention: Syndicate Department
777 East Wisconsin Avenue
Milwaukee, WI 53202-5391
Telephone: (800) 792-2473
syndicate@rwbaird.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
Email: prospectus-eq_fi@jpmchase.com
BofA Merrill Lynch
Prospectus DepartmentNC1-004-03-43
200 North College Street, 3rd floor,
Charlotte NC 28255-0001
dg.prospectus_requests@baml.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
Deutsche Bank Securities
Attn: Prospectus Group
60 Wall Street
New York, NY 10005
Telephone: 1-800-503-4611
prospectus.CPDG@db.com
DNB Markets
Attn: Investment Banking Division
200 Park Avenue, 31st floor
New York, NY 10166
Telephone: (212) 681-3800
Mizuho Securities
Attn: Equity Capital Markets
320 Park Avenue, 12th Floor
New York, New York 10022
Telephone: (212) 205-7600
MUFG
Attn: Capital Markets Group
1221 Avenue of the Americas, 6th Floor
New York, New York 10020
Telephone: (877) 649-6848
Wells Fargo Securities
c/o Equity Syndicate Department
375 Park Avenue
New York, NY 10152
Telephone: 1-800-326-5897
cmclientsupport@wellsfargo.com
To obtain a copy of the preliminary prospectus free of charge,
visit the U.S. Securities and Exchange Commission’s (the “SEC”)
website at www.sec.gov.
A registration statement relating to these securities has been
filed with and declared effective by the SEC. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy securities, and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that jurisdiction.
About Noble Midstream
Noble Midstream is a growth-oriented Delaware master limited
partnership formed by its sponsor, Noble Energy, to own, operate,
develop and acquire a wide range of domestic midstream
infrastructure assets. Noble Midstream currently provides crude
oil, natural gas, and water-related midstream services for Noble
Energy in the DJ Basin in Colorado. Our areas of focus are in the
DJ Basin and the Delaware Basin in Texas.
Forward Looking Statements
This press release may include forward-looking statements within
the meaning of the federal securities laws. Statements that do not
relate strictly to historical or current facts are forward-looking.
These statements contain words such as "possible," "if," "will" and
"expect" and involve risks and uncertainties including, among
others, that Noble Midstream's business plans may change as
circumstances warrant and securities of Noble Midstream may not
ultimately be sold to the public because of general market
conditions or other factors. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements in Noble Midstream’s prospectus and SEC
filings. Noble Midstream undertakes no obligation and does not
intend to update these forward-looking statements to reflect events
or circumstances occurring after this press release. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160914006382/en/
Noble MidstreamJohn BookoutChief Financial Officer(832)
639-7134john.bookout@nblmidstream.comorChris HickmanInvestor
Relations(281) 943-1622chris.hickman@nblmidstream.com
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