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4-Traders Homepage  >  Equities  >  Nyse  >  DCP Midstream LP    DPM

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DCP Midstream Partners, LP : DCP Midstream Partners Announces Public Offering of Common Units

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03/01/2012 | 10:15pm CET

DCP Midstream Partners, LP (NYSE: DPM) (the "Partnership") announced today that it has commenced, subject to market conditions, an underwritten public offering of 4,750,000 of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 712,500 additional common units.

The Partnership intends to use the net proceeds from this offering, including the proceeds from any exercise of the underwriters' option to purchase additional common units, to repay indebtedness outstanding under its revolving credit facility and for general partnership purposes.

Barclays Capital, BofA Merrill Lynch, Citigroup, Credit Suisse, Morgan Stanley and Wells Fargo Securities will act as joint book-running managers for the offering. Deutsche Bank Securities, J.P. Morgan and RBC Capital Markets will act as co-managers for the offering.

When available, a copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from any of the underwriters by contacting:

Barclays Capital
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
barclaysprospectus@broadridge.com
Toll-Free: (888) 603-5847

BofA Merrill Lynch
4 World Financial Center
New York, New York 10080
Attn: Prospectus Department
dg.prospectus_requests@baml.com

Citigroup
Brooklyn Army Terminal
140 58th Street
Brooklyn, New York 11220
batprospectusdept@citi.com
Phone: (877) 858-5407

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, New York 10010
Telephone (800) 221-1037
newyork.prospectus@credit-suisse.com

Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, New York 10014
prospectus@morganstanley.com
Phone: (866) 718-1649

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
cmclientsupport@wellsfargo.com
Phone: (800) 326-5897

You may also obtain these documents free of charge when they are available by visiting the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may be made only by means of a prospectus and related prospectus supplement.

DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, treats, processes, transports and markets natural gas, transports and markets natural gas liquids, and is a leading wholesale distributor of propane. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and ConocoPhillips.

This press release contains forward-looking statements as defined under the federal securities laws, including statements regarding the intended use of offering proceeds and other aspects of the common unit offering. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control, including market conditions, customary offering closing conditions and other factors described in the prospectus for the offering. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Partnership's actual results may vary materially from what management anticipated, estimated, projected or expected.

Investors are encouraged to closely consider the disclosures and risk factors contained in the Partnership's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. The statements herein speak only as of the date of this press release. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Information contained in this press release is unaudited, and is subject to change.

DCP Midstream Partners
Media and Investor Relations:
Jonni Anwar, 303-605-1868
or
24-Hour: 303-887-5419


© Business Wire 2012
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EBIT 2016 238 M
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EV / Sales 2016 4,11x
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Mean consensus HOLD
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Average target price 37,0 $
Spread / Average Target -1,7%
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