Breaking News

EDF Names Jean-Bernard Levy Interim Chairman, CEO
Tweet TWEET

SemGroup Corporation Announces Proposed Private Offering of Senior Notes

SemGroup Corporation Announces Proposed Private Offering of Senior Notes

TULSA, Okla., June 3, 2013 (GLOBE NEWSWIRE) -- SemGroup^® Corporation
(NYSE:SEMG) (SemGroup) today announced that it intends to offer, subject to
market and other conditions, $350 million in aggregate principal amount of
senior unsecured notes due 2021 (the Notes) for sale in a private placement to
eligible purchasers.

We intend to use the net proceeds of this offering to fund the pending
acquisition (the Acquisition) of all the outstanding equity interests in
Mid-America Midstream Gas Services, L.L.C., a subsidiary of Chesapeake Energy
Corporation, to repay amounts borrowed under SemGroup's corporate revolving
credit facility and for general corporate purposes, including capital
expenditures. If, for any reason, the Acquisition does not close, we intend to
use the net proceeds of this offering for general corporate purposes,
including capital expenditures. The Acquisition is expected to close by the
third quarter of 2013 and is conditioned upon certain closing conditions.

This press release is neither an offer to sell nor a solicitation of an offer
to buy the Notes or any other securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale is unlawful. The Notes and the guarantees thereof have not been
registered under the Securities Act of 1933, as amended (the Securities Act),
or any state securities laws and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements under the Securities Act and applicable state securities laws.
The Notes are expected to be offered and sold only to qualified institutional
buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons
outside of the United States pursuant to Regulation S under the Securities
Act. This press release is being issued in accordance with Rule 135c under the
Securities Act.

Forward-Looking Statements

Certain matters contained in this press release include "forward-looking
statements" within the meaning of Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act of 1934, as amended. We make these
forward-looking statements in reliance on the safe harbor protections provided
under the Private Securities Litigation Reform Act of 1995.

All statements, other than statements of historical fact, included in this
press release, including regarding the offering of the Notes, the expected use
of proceeds from such offering and the closing of the Acquisition, may
constitute forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are reasonable, we
cannot assure you that these expectations will prove to be correct. These
forward-looking statements are subject to certain known and unknown risks and
uncertainties, as well as assumptions that could cause actual results to
differ materially from those reflected in these forward-looking statements.
Factors that might cause actual results to differ include, but are not limited
to, (i) SemGroup's business plans may change as circumstances warrant and the
offering of the Notes may not ultimately be completed because of general
market conditions or other factors or (ii) any of the factors discussed from
time to time in each of our documents and reports filed with the Securities
and Exchange Commission.

Readers are cautioned not to place undue reliance on any forward-looking
statements contained in this press release, which reflect management's
opinions only as of the date hereof. Except as required by law, we undertake
no obligation to revise or publicly release the results of any revision to any
forward-looking statements.

CONTACT: Investor Relations:
         Mary Catherine Ward
         918-524-8081
         investor.relations@semgroupcorp.com
        
         Media:
         Kiley Roberson
         918-524-8594
         kroberson@semgroupcorp.com

SemGroup Corporation logo
 
Press spacebar to pause and continue. Press esc to stop.