Deal Details
Follow-on Offering
Summary
Baird served as a co-manager in this offering
About
Inergy, L.P. (NYSE: NRGY) (the “Partnership”) recently completed a follow-on offering of 9,000,000 common units representing limited partner interests at $36.00 per common unit, generating gross proceeds of approximately $324.0 million. The Partnership intends to use the net proceeds from this offering to repay borrowings under its revolving general partnership and working capital credit facilities, to fund ongoing expansion projects in its midstream business, and for general partnership purposes.Inergy, L.P. is a publicly traded Delaware limited partnership that owns and operates a geographically diverse retail and wholesale propane supply, marketing and distribution business. The Partnership also owns and operates a growing midstream business that includes four natural gas storage facilities, a liquefied petroleum gas storage facility, a natural gas liquids business and a solution-mining and salt production company.
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- Date
- June 2011
- Company
- Inergy, L.P.
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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