DT Midstream Announces Closing of Private Offering of Senior Secured Notes

DT Midstream

DT Midstream released the news of the closure of the offering of $600,000,000 of 4.300% Senior Secured Notes due in 2032.

The Notes issued by DT Midstream were guaranteed by certain of DT Midstream’s subsidiaries. They secure DT Midstream’s existing credit facilities as well. They also secured it by a priority lien on specific assets of DT Midstream and its subsidiary guarantors.

This news refers to a previous announcement where they were making this offer.

You also might want to read “DT Midstream Announces Pricing of Private Offering of Senior Secured Notes.”

As they previously stated, the Company partially used the net proceeds from the sale of the Notes to repay existing indebtedness. The debt was under its term loan facility, and the transaction is leverage-neutral.

Also, following the plan they made, the Notes were sold in a private placement. They were sold to a person who believed that has the quality and the institutional qualification the Company looked for.

To know more about DT Midstream

The Company dedicates to operating and develop natural gas in interstate and intrastate pipelines. They also store and gather systems and dedicate them to the compression, treatment, and surface facilities.  

DT Midstream transports clean natural gas from Southern, Northeastern, and Midwestern United States and Canada. The usage of the gas is for utilities such as power plants, marketers, large industrial customers, and energy producers.

They are based in Detroit, and they are offering a large amount of wellhead-to-market array of services to the market. That includes natural gas transportation, storage, and gathering.

They are on the pad towards the transition to net-zero greenhouse gas emissions by 2050. Another primary goal is to achieve 30% of its carbon emissions reduction in the next decade.

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