Crestwood Midstream prices offering of units
Crestwood Midstream prices offering of 4.5 million units
HOUSTON (AP) -- Crestwood Midstream Partners LP said Tuesday it priced a public offering of 4.5 million common units at $23.90 per unit.
The price is a 4 percent discount to the units' previous close of $24.85. They fell nearly 5 percent in afternoon trading.
Underwriters have a 30-day option to buy up to 675,000 additional units.
Houston-based Crestwood, which owns assets that help process and treat natural gas, said proceeds will be used to pay back debt and for general partnership purposes.
Its units fell $1.22 to $23.63 in afternoon trading.
