Print Page  Close Window

News Release

MarkWest Energy Partners Announces Expiration and Final Results of Tender Offers for Its 6.75% Senior Notes due 2020, 6.5% Senior Notes due 2021 and 6.25% Senior Notes due 2022

DENVER--(BUSINESS WIRE)--Jun. 4, 2015-- MarkWest Energy Partners, L.P. (NYSE:MWE) announced today that its previously announced cash tender offers expired at 5:00 p.m. New York City time on June 3, 2015. At the expiration time, valid tenders had been received in the amounts set forth in the table below.

                   
Principal Principal Percentage of
CUSIP Amount Amount Outstanding
Issuer(1) Title of Security Number Outstanding Tendered(2) Amount Tendered
MarkWest Energy Partners, L.P. 6.75% Senior Notes due 2020 570506AM7 $500,000,000 $481,960,000 96.4%
MarkWest Energy Partners, L.P. 6.5% Senior Notes due 2021 570506AN5 $325,000,000 $311,904,000 96.0%
MarkWest Energy Partners, L.P. 6.25% Senior Notes due 2022 570506AP0 $455,000,000 $441,082,000 96.9%
____________________
(1) MarkWest Energy Finance Corporation, a wholly owned subsidiary of MarkWest Energy Partners, L.P., is a co-issuer of each series of notes.
(2) Excludes notes of all series that remain subject to the guaranteed delivery procedures.
 

MarkWest expects to accept for payment all notes validly tendered and not validly withdrawn as of the expiration time of the tender offers, and MarkWest expects to make payment for these notes later today. Settlement for any notes delivered in accordance with the guaranteed delivery procedures and accepted for payment will be made on June 8, 2015.

Proceeds from the issuance of MarkWest’s $1.2 billion of 4.875% senior notes due 2025, which closed on June 2, 2015, will be applied to the settlement of the tender offers.

MarkWest has retained Wells Fargo Securities, LLC to serve as the exclusive Dealer Manager for the tender offers. Questions regarding the terms of the offers may be directed to Wells Fargo Securities, LLC, Liability Management Group, at (704) 410-4760 (collect) or (866) 309-6316 (toll-free).

MarkWest has also retained D.F. King & Co., Inc. to serve as the Tender Agent and Information Agent for the offers.

MarkWest Energy Partners, L.P. is a master limited partnership that owns and operates midstream service businesses. MarkWest has a leading presence in many natural gas resource plays including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash formation.

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although MarkWest believes that the expectations reflected in the forward-looking statements are reasonable, MarkWest can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the SEC. Among the factors that could cause results to differ materially are those risks discussed in the periodic reports filed with the SEC, including MarkWest’s Annual Report on Form 10-K for the year ended December 31, 2014. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” MarkWest does not undertake any duty to update any forward-looking statement except as required by law.

Source: MarkWest Energy Partners, L.P.

MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482
Chairman, President & CEO
or
Nancy Buese, 866-858-0482
Executive VP & CFO
or
Josh Hallenbeck, 866-858-0482
VP of Finance & Treasurer
or
investorrelations@markwest.com