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Summit Midstream Partners, LP Announces Series A Preferred Unit Exchange Offer
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HOUSTON, March 10, 2021 /PRNewswire/ Summit Midstream Partners, LP (NYSE: SMLP) (the Partnership ) announced today that it has commenced an offer to exchange (the Exchange Offer ) its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference $1,000) (the Series A Preferred Units ) tendered in the Exchange Offer for up to 2,160,000 newly issued common units (the Maximum Exchange Amount ) representing limited partner interests in the Partnership (the Common Units ). For each Series A Preferred Unit that is accepted in the Exchange Offer, the holder will receive 27 Common Units (the Exchange Consideration ). The Exchange Offer is conditioned on, among other things, that holders of at least 15,000 Series A Preferred Units properly tender (and do not validly withdraw) their Series A Preferred
Summit Midstream Partners, LP Announces Series A Preferred Unit Exchange Offer prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.