EX-99.1 2 ea022527702ex99-1_summit.htm PRESS RELEASE, DATED JANUARY 7, 2025 Exhibit 99.1 Summit Midstream Corporation Announces Pricing of Offering of $250 Million of Additional 8.625% Senior Secured Second Lien Notes Due 2029 HOUSTON, January 7, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) (“SMC” or the “Company”) announced today that Summit Midstream Holdings, LLC (the “Issuer”), which is a subsidiary of the Company, has priced the previously announced offering (the “Offering”) of $250.0 million in aggregate principal amount of additional 8.625% Senior Secured Second Lien Notes due 2029 (the “Additional Notes”) at 103.375% of par, plus accrued and unpaid interest from July 26, 2024 to, but excluding, the issue date. The Additional Notes will be issued under the same indenture as the Issuer’s $575.0 million in aggregate principal amount of 8.625% Senior Secured Second Lien Notes due 2029 (the “Existing Notes”), will have substantially identical terms as the Existing Notes, other than the issue date and issue price, and will form a single series and vote together with the Existing Notes. The Company intends to use the net proceeds from the Offering to (i) rep…
Open exhibit ↗Current Report · Items 8.01, 9.01 · 8-K
Summit Midstream Corporation
SMCNYSEEQUITYCurrent
Other Events
Item 8.01 Other Events. On January 7, 2025, Summit Midstream Corporation, a Delaware corporation (the “Company”), issued a press release announcing that Summit Midstream Holdings, LLC, a subsidiary of the Company, has priced the previously announced private offering of $250.0 million in aggregate principal amount of additional 8.625% Senior Secured Second Lien Notes due 2029 (the “Additional Notes”).…
Company context
SMC is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMC provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in five unconventional resource basins: (i) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (ii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; (iv) the Arkoma Basin, which includes the Woodford and Caney shale formations in Oklahoma; and (v) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMC has an equity method investment in Double E Pipeline, LLC, which provides interstate natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMC is headquartered in Houston, Texas.