Copano Energy, L.L.C. (NASDAQ: CPNO) and its subsidiary Copano Energy
Finance Corporation today announced the commencement of a public
offering of an additional $150,000,000 in aggregate principal amount of
their 7.125% senior unsecured notes due 2021 (the "Additional Notes").
Copano intends to use the net proceeds from the offering to repay a
portion of the outstanding indebtedness under its revolving credit
facility and expects to use the increased borrowing capacity as needed
for capital projects, acquisitions, hedging, working capital and general
corporate purposes.
On April 5, 2011, Copano Energy, L.L.C. and Copano Energy Finance
Corporation completed a public offering of $360,000,000 in aggregate
principal amount of their 7.125% senior unsecured notes due 2021. The
Additional Notes and the notes issued on April 5, 2011 will be treated
as a single class of debt securities under the indenture.
Wells Fargo Securities, BofA Merrill Lynch, Citigroup, J.P. Morgan and
RBC Capital Markets are joint book-running managers for the offering. An
investor may obtain a free copy of the prospectus by visiting EDGAR on
the SEC website at www.sec.gov. When
available, a copy of the prospectus supplement and accompanying base
prospectus relating to this offering may also be obtained from the
underwriters as follows:
Wells Fargo Securities
Attn: Client Support, MAC D1086-070
550
South Tryon Street, 7th Floor
Charlotte, NC 28202
Phone: (800)
326-5897
Email: cmclientsupport@wellsfargo.com
BofA Merrill Lynch
Attn: Syndicate Operations
4 World
Financial Center
New York, NY 10080
Phone: (800) 294-1322
Email:
dg.prospectus_requests@baml.com
Citigroup
Attn: Prospectus Department
Brooklyn Army Terminal
140
58th Street, 8th Floor
Brooklyn, NY 11220
Phone: (800) 831-9146
Email:
batprospectusdept@citi.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long
Island Avenue
Edgewood, NY 11717
Phone: (866) 803-9204
RBC Capital Markets
Attention: High Yield Capital Markets
3
World Financial Center
200 Vesey Street, 10th Floor
New York,
NY 10281-8098
Phone: (877) 280-1299
The Additional Notes will be offered and sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.
About Copano Energy, L.L.C.
This press release includes "forward-looking statements," as defined
by the Securities and Exchange Commission. Statements that
address activities or events that Copano believes will or may occur in
the future are forward-looking statements. These statements
include, but are not limited to, statements about the intended use of
offering proceeds and other aspects of the notes offering. These
statements are based on management's experience and perception of
historical trends, current conditions, expected future
developments and other factors management believes are reasonable.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements include the
following risks and uncertainties, many of which are beyond
Copano's control: price volatility and market demand for natural gas and
natural gas liquids; Copano's ability to continue to obtain new
sources of natural gas supply and retain its key customers; the impact on
volumes and resulting cash flow of technological, economic and other
uncertainties inherent in estimating future production, producers'
ability to drill and successfully complete and attach new natural gas
supplies and the availability of downstream transportation
systems and other facilities for natural gas and NGLs; higher
construction costs or project delays due to inflation, limited
availability of required resources or the effects of environmental,
legal or other uncertainties; general economic conditions; the
effects of government regulations and policies; and other financial,
operational and legal risks and uncertainties detailed from time
to time in Copano's filings with the Securities and Exchange Commission.
Copano does not undertake any duty to update any forward-looking
statement except as provided by law.
CPNO-IR
