Summit Midstream Streamlines Debt with New Notes and Credit Facility

Summit Midstream (SMLP) has issued an update.

Summit Midstream Partners, LP and its subsidiaries entered into an agreement issuing $575 million in 8.625% Senior Secured Second Lien Notes due 2029, with proceeds aimed at repurchasing existing notes and for general corporate purposes. The notes, maturing on October 31, 2029, offer semi-annual interest payments, and come with optional redemption features that include equity offering proceeds. Concurrently, Summit Holdings amended its asset-based revolving credit facility to $500 million, with maturity aligning closely with the new notes’ schedule. The financial maneuvers include the satisfaction and discharge of previous indentures, streamlining the company’s debt profile and obligations.

For detailed information about SMLP stock, go to TipRanks’ Stock Analysis page.