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Copano Energy LLC prices additional USD150m senior notes due 2021.

M2 EQUITYBITES-February 3, 2012-Copano Energy LLC prices additional USD150m senior notes due 2021(C)2012 M2 COMMUNICATIONS

Natural gas company Copano Energy LLC (NASDAQ:CPNO) and its subsidiary Copano Energy Finance Corporation on Thursday jointly priced its public offering of an additional USD150m in aggregate principal amount of 7.125% senior unsecured notes due 2021.

The companies stated the price to investors will be 102.25% of the principal amount, for a yield to worst of 6.721% with respect to the additional notes.

Net proceeds from the offering will be used by the company to repay a portion of the outstanding indebtedness under its revolving credit facility, for capital projects, acquisitions, hedging, working capital and general corporate purposes.

Wells Fargo Securities, BofA Merrill Lynch, Citigroup, JP Morgan and RBC Capital Markets are joint book-running managers for the offering that is scheduled to close on 7 February 2012.

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Publication:M2 EquityBites (EQB)
Date:Feb 3, 2012
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