DT Midstream, Inc. has announced the pricing of an offering of $650,000,000 of 5.800% senior secured notes due 2034. These notes will be used, along with proceeds from a recently completed offering of common stock, borrowings under a revolving credit facility, and cash on hand, to fund the pending acquisition of all equity interests in Guardian Pipeline, L.L.C., Midwestern Gas Transmission Company, and Viking Gas Transmission Company from Oneok Partners Intermediate Limited Partnership and Border Midwestern Company.
The notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and to non-U.S. persons outside the United States under Regulation S under the Securities Act.
DT Midstream is a Detroit-based company that owns, operates, and develops natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities. The company transports clean natural gas for utilities, power plants, marketers, large industrial customers, and energy producers across the southern, northeastern, and midwestern United States and Canada.
DT Midstream has also announced its transition towards net zero greenhouse gas emissions by 2050, with a goal of achieving 30% of its carbon emissions reduction by 2030. Today the company's shares have moved 0.1% to a price of $108.56. For the full picture, make sure to review DT Midstream's 8-K report.
