Filed pursuant to Rule 433
Issuer Free Writing Prospectus dated March 12, 2014
Relating to Preliminary Prospectus Supplement dated March 12, 2014
Registration Statement No. 333-194465
ENLINK MIDSTREAM PARTNERS, LP
2.700% SENIOR NOTES DUE 2019
4.400% SENIOR NOTES DUE 2024
5.600% SENIOR NOTES DUE 2044
Pricing Term Sheet
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Issuer: |
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EnLink Midstream Partners, LP |
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Security Type: |
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Senior Unsecured Notes |
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Pricing Date: |
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March 12, 2014 |
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Settlement Date: |
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March 19, 2014 (T+5) |
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Net Proceeds (Before Expenses): |
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$1,189,985,000 |
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2.700% Senior Notes |
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4.400% Senior Notes |
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5.600% Senior Notes |
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Principal Amount: |
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$400,000,000 |
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$450,000,000 |
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$350,000,000 |
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Maturity Date: |
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April 1, 2019 |
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April 1, 2024 |
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April 1, 2044 |
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Benchmark Treasury: |
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1.500% due February 28, 2019 |
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2.750% due February 15, 2024 |
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3.750% due November 15, 2043 |
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Benchmark Price and Yield: |
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99-19+; 1.582% |
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100-08; 2.721% |
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101-22+; 3.655% |
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Spread to Benchmark: |
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+115 bps |
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+170 bps |
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+195 bps |
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Yield to Maturity: |
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2.732% |
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4.421% |
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5.605% |
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Coupon: |
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2.700% |
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4.400% |
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5.600% |
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Public Offering Price: |
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99.850% |
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99.830% |
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99.925% |
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Optional Redemption: |
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Make-Whole Call: |
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T + 20 bps prior to March 1, 2019 |
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T + 25 bps prior to January 1, 2024 |
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T + 30 bps prior to October 1, 2043 |
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Call at Par: |
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On or after March 1, 2019 |
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On or after January 1, 2024 |
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On or after October 1, 2043 |
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Interest Payment Dates: |
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April 1 and October 1, beginning October 1, 2014 |
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April 1 and October 1, beginning October 1, 2014 |
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April 1 and October 1, beginning October 1, 2014 |
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CUSIP / ISIN: |
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29336U AA5 / |
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29336U AB3 / |
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29336U AC1 / |
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Ratings*: |
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Baa3 (Moody’s) | ||||
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Joint Book-Running Managers: |
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Citigroup Global Markets Inc. | ||||
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Co-Managers: |
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Barclays Capital Inc. | ||||
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.
The issuer has filed a registration statement (including a base prospectus and a prospectus supplement) with the U.S. Securities and Exchange Commission, or the SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the base prospectus in that registration statement and any other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by searching the SEC’s online database (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the base prospectus and prospectus supplement if you request them by contacting Citigroup Global Markets Inc. at (800) 831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800) 294-1322, or RBC Capital Markets, LLC at (866) 375-6829.
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