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Crosstex Energy Announces Public Offering of Common Units



  Crosstex Energy Announces Public Offering of Common Units

Business Wire

DALLAS -- January 8, 2013

Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) today announced the
commencement of an underwritten public offering of 7,500,000 common units
representing limited partner interests of the Partnership. The Partnership
will also grant the underwriters a 30-day option to purchase up to 1,125,000
additional common units. Wells Fargo Securities, BofA Merrill Lynch,
Citigroup, Morgan Stanley and RBC Capital Markets will act as joint
book-running managers for the public offering.

Concurrent with the public offering, the Partnership intends to offer
2,700,000 common units to certain funds affiliated with Magnetar Capital in a
privately negotiated transaction.

The Partnership intends to use the net proceeds from these issuances,
including any net proceeds from the underwriters’ exercise of their option
pursuant to the public offering, for capital expenditures for currently
identified projects, including the Cajun-Sibon natural gas liquids pipeline
expansion, and for general partnership purposes.

When available, copies of the preliminary prospectus supplement, prospectus
supplement and accompanying base prospectus relating to the public offering
may be obtained free of charge on the Securities and Exchange Commission’s
website at www.sec.gov or from the underwriters of the offering:

  * Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New
    York, NY 10152. By telephone (800) 326-5897 or by email
    cmclientsupport@wellsfargo.com;
  * BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York,
    NY 10038. By email at dg.prospectus_requests@baml.com;
  * Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Ave.,
    Edgewood, NY 11717. By email at batprospectusdept@citi.com, or Toll-Free:
    (800) 831-9146;
  * Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor,
    New York, New York 10014. By telephone (866) 718-1649 (toll free) or (917)
    606-8474 or by e-mailing prospectus@morganstanley.com;
  * RBC Capital Markets, Attn: Equity Syndicate, Three World Financial Center,
    200 Vesey Street, 8^th Floor, New York, NY 10281. By telephone (877)
    822-4089.

The common units to be issued pursuant to the public offering and the direct
placement will be offered and sold pursuant to an effective shelf registration
statement on Form S-3 previously filed with the Securities and Exchange
Commission. 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 an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The offering
is being made only by means of a prospectus and related prospectus supplement
meeting the requirements of Section 10 of the Securities Act of 1933, as
amended.

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates approximately 3,500 miles of natural gas, natural gas liquids
and oil pipelines, 10 processing plants and four fractionators. The
Partnership also operates barge terminals, rail terminals, product storage
facilities, brine water disposal wells and an extensive truck fleet.

Crosstex Energy, Inc. owns combined general and limited partner interests of
approximately 22 percent and the incentive distribution rights of Crosstex
Energy, L.P.

This press release contains forward-looking statements. These statements are
based on certain assumptions made by the Partnership based upon management’s
experience and perception of historical trends, current conditions, expected
future developments and other factors the Partnership believes are appropriate
in the circumstances. These statements include, but are not limited to,
statements with respect to the Partnership’s financial flexibility and
prospects. Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Partnership, which
may cause the Partnership’s actual results to differ materially from those
implied or expressed by the forward-looking statements. These risks include,
but are not limited to, risks discussed in the Partnership’s filings with the
Securities and Exchange Commission. We therefore caution you against relying
on any of these forward-looking statements. The Partnership has no obligation
to publicly update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.

Contact:

Crosstex Energy, L.P.
Jill McMillan, 214-721-9271
Director, Public & Industry Affairs
Jill.McMillan@CrosstexEnergy.com
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