EnLink Midstream Announces Early Tender Results and Increase of Previously Announced Cash Tender Offers


Dallas, August 29, 2022 /PRNewswire/ — EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today announced the advanced tender results of previously announced cash offers by EnLink’s subsidiary, EnLink Midstream Partners, LP (ENLK), to purchase 4.40% senior notes from ENLK announced due 2024 (the 2024 Notes), 4.15% Senior Notes due 2025 (the 2025 Notes) and 4.85% Senior Notes due 2026 (the 2026 Notes and together with the 2024 Notes and the 2025- Notes the Tender Notes). In addition, EnLink announced that ENLK (i) has increased the maximum aggregate principal amount that can be purchased pursuant to the tender offers $500.0 million to $700.0 million (the Maximum Aggregate Redemption Amount) and (ii) the maximum aggregate principal amount of the 2025 Notes that may be purchased in the Tender Offers $150.0 million to an Aggregate Principal Amount equal to the Aggregate Subscription Amount Limit less the amount of 2024 Notes validly tendered and not previously validly withdrawn 5.00, NYC time is running August 29, 2022 (this date and time, the Early Tender Date). All other terms of the tender offers set out in the tender offer dated August 16, 2022 (in the previously amended and supplemented form the purchase offer) remain unchanged.

The following table contains certain information regarding the Tender Offers and Tender Receipts validly submitted and not validly withdrawn on or before the Early Redemption Date as reported by DF King & Co., Inc., the redemption and information agent for the Tender Offers. The right of withdrawal for the Tender Notes expired on 5.00, NYC time is running August 29, 2022.

title of the notes

Counting /


priority level

total capital
Payment amount per
the early tender date

total capital
Estimated amount

4.40% Senior Notes due 2024






4.15% Senior Notes due 2025







4.85% Senior Notes due 2026





Tender Notes validly tendered and not validly withdrawn and accepted for purchase prior to the Early Tender Date will receive the relevant aggregate consideration for the relevant Series as described in the Tender Offer, including the $30 Early tender premium each $1,000 Principal Amount of this Series of Tender Notes, plus accrued and unpaid interest from the last Interest Payment Date for the relevant Tender Notes up to, but not including, the Settlement Date for the Tender Notes validly tendered and not validly withdrawn on or before the Early Tender Date and accepted for purchase by ENLK (the “Early Settlement Date”). It is expected that the Early Settlement Date will be August 31, 2022.

ENLK intends to accept for purchase all 2024 Notes that have been validly tendered and not validly withdrawn on or before the Early Tender Date but have been disclosed as previously in the Tender Offer with respect to the applicable priority levels of the Tender Notes as the aggregate principal amount will be on or before the Tender Notes validly submitted and not validly withdrawn by the Early Tender Date exceed the Total Maximum Tender Amount, (i) ENLK will accept the tendered 2025 Notes pro rata for purchase, (ii) ENLK does not anticipate acceptance for the purchase of Notes from the year 2026 and (iii ) ENLK does not expect to accept for purchase Tender Notes submitted after the Early Tender Date and ENLK therefore does not expect that there will be a final settlement date. Each of the tender offers is scheduled to expire at midnight, NYC time, in the end September 13, 2022unless extended or terminated earlier (the Expiration Date).

EnLink intends to use the net proceeds from EnLink’s offering to fund the tender offers $700.0 million Aggregate principal amount of 6.500% senior notes due 2030 (the New Notes) announced by EnLink on August 16, 2022and is expected to close on the Early Settlement Date, subject to customary closing conditions, with corporate liquidity on hand.

Full terms and conditions of each tender offer are set forth in the Tender Offer, copies of which may be obtained from DF King & Co., Inc., the Tender Agent and Information Agent, at 800-207-3159 (US toll-free) or 212- 269-5550.

BofA Securities, Inc. and Wells Fargo Securities, LLC are acting as lead dealer managers for the tender offers. The co-dealer managers for the tender offers are Citigroup Global Markets Inc., RBC Capital Markets, LLC, PNC Capital Markets LLC and TD Securities (United States of America) GMBH. If you have any questions regarding the terms of the tender offers, please contact the Lead Dealer Managers of BofA Securities, Inc., (US toll free) 888-292-0070 or (US toll) 980-388-3646 or Wells Fargo Securities, LLC , (US toll-free) 866-309-6316 or (collective) 704-410-4756.

This press release is for informational purposes only and does not constitute an offer to buy or sell, a solicitation of an offer to buy or sell, or a redemption notice with respect to any securities, including the Tender Notes or the New Debentures. Each of the Tender Offers is made solely by the Offer to Purchase delivered. The Tender Offers will not be made to holders of Tender Offer Notes in any jurisdiction where the issuance or acceptance thereof would be inconsistent with the securities, blue sky or other laws of such jurisdiction.

About EnLink Midstream
EnLink Midstream reliably operates a differentiated midstream platform designed for long-term, sustainable value creation. EnLink’s world-class services span the midstream value chain, providing natural gas, crude oil, condensate and NGL capabilities, as well as carbon capture, transportation and sequestration. Our purpose built, integrated asset platforms are located in prime production basins and core demand centers including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink’s strong financial foundation and commitment to execution excellence drives competitive returns and value for our employees, customers and investors. headquarters in DallasEnLink is publicly traded through EnLink Midstream, LLC (NYSE: ENLC).

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Although these statements reflect the current views, assumptions and expectations of EnLink management, the matters discussed herein involve certain assumptions, risks and uncertainties that could cause actual activities, performance, results and results to differ materially from those stated herein. Therefore, you should not rely on these forward-looking statements. All statements in this press release, other than statements of historical fact, constitute forward-looking statements, including but not limited to statements identified by the words “anticipate”, “may”, “believe”, “will”, “should” , “plan”, “predict”, “anticipate”, “intend”, “estimate” and “expect” and similar expressions. Such forward-looking statements include, but are not limited to, statements regarding the expected completion of the offering of new debentures and tender offers, the intended use of the proceeds of the offering, other aspects of the offering of debentures and tender offers and other statements that are not historical facts. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict, many of which are beyond management’s control, including risks and uncertainties related to EnLink’s business, market conditions and whether EnLink will do so Completion of the offering of the New Debentures and the Tender Offers, anticipated use of proceeds, the impact of competition and other risk factors included in EnLink’s filings with the Securities and Exchange Commission. An extensive list of factors that may affect EnLink’s business are discussed in EnLink’s filings with the Securities and Exchange Commission, including EnLink’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports Reports on Form 8-K. Neither EnLink Midstream, LLC nor EnLink Midstream Partners, LP undertakes any obligation to update any forward-looking statements.

Investor Relations: Brian BrungardtInvestor Relations Director, 214-721-9353, [email protected]
media work: Megan WrightCorporate Communications Director, 214-721-9694, [email protected]

SOURCE EnLink Midstream, LLC


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