DT Midstream, Inc. announced on December 6, 2024, the successful closing of its previously announced offering of $650 million of 5.800% Senior Secured Notes due 2034. These notes are guaranteed by certain of DT Midstream’s subsidiaries and secured by a first priority lien on specific assets.
The proceeds from this debt issuance, along with those from its recently completed common stock offering, borrowings under its revolving credit facility, and cash on hand, are designated to fund the consideration for the pending acquisition of three natural gas pipelines from ONEOK.
The completion of this financing step moves DT Midstream closer to finalizing the $1.2 billion acquisition of Guardian Pipeline, Midwestern Gas Transmission Company, and Viking Gas Transmission Company, which is expected to close in late 2024 or early 2025.
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