Exhibit 99.1
FOR IMMEDIATE RELEASE
FEBRUARY 3, 2010
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Contact: |
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Jill McMillan, Director, Public & Industry Affairs
Phone: (214) 721-9271
Jill.McMillan@CrosstexEnergy.com |
CROSSTEX ENERGY, L.P. ANNOUNCES PRICING OF $725 MILLION
PRIVATE PLACEMENT OF SENIOR NOTES DUE 2018
DALLAS, February 3, 2010 The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX)
(the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation), announced today that
the Partnership and its subsidiary, Crosstex Energy Finance Corporation, priced the offering of
$725 million in aggregate principal amount of 8.875% senior unsecured notes due 2018 at an issue
price to yield 9.250 percent to maturity. The offering is expected to close on February 10, 2010.
The Partnership intends to use the net proceeds of this offering, together with borrowings under
its proposed new senior secured credit facility, to repay in full amounts outstanding under the
Partnerships existing credit facility and senior secured notes and to pay related fees, costs and
expenses, including the settlement of interest rate swaps associated with the existing credit
facility.
The offered securities have not been registered under the Securities Act of 1933, as amended, (the
Securities Act), or any state securities laws, and unless so registered, the securities may not
be offered or sold in the United States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act and applicable state securities
laws. The Partnership plans to offer and issue the notes only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to
Regulation S.
This press release is being issued pursuant to Rule 135c under the Securities Act, and 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 to sell or a solicitation of an offer to buy, or a sale of, the notes or
any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
-more-
Crosstex Energy, L.P. Announces Pricing of $725 Million Private Placement of Senior Notes Due in 2018
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About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates
approximately 3,300 miles of pipeline, nine processing plants and three fractionators. The
Partnership currently provides services for 3.2 billion cubic feet of natural gas per day, or
approximately six percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner interest, a 25 percent limited partner
interest and the incentive distribution rights of Crosstex Energy, L.P.
This press release contains forward-looking statements within the meaning of the federal securities
laws. These statements are based on certain assumptions made by the Partnership and the
Corporation based upon managements experience and perception of historical trends, current
conditions, expected future developments and other factors the Partnership and the Corporation
believe are appropriate in the circumstances. These statements include, but are not limited to,
statements with respect to the Partnerships private placement of senior notes. Such statements are
subject to a number of assumptions, risks and uncertainties, many of which are beyond the control
of the Partnership and the Corporation, which may cause the Partnerships and the Corporations
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 Partnerships and
the Corporations filings with the Securities and Exchange Commission. The Partnership and the
Corporation have no obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
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