Enable Midstream Partners Begins IPO - Quick Facts

(RTTNews) - Enable Midstream Partners LP announced that it has begun an initial public offering of 25 million common units representing limited partner interests. The underwriters of the offering are expected to be granted a 30-day option to purchase up to an additional 3.75 million common units from affiliates of ArcLight Capital Partners, LLC.

The common units are expected to trade on the New York Stock Exchange under the ticker symbol "ENBL."

The common units being offered represent a 6.0 percent limited partner interest in Enable Midstream, or a 6.9 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units.

CenterPoint Energy (CNP) and OGE Energy Corp. (OGE), through certain of their subsidiaries, will own 54.7 percent and 26.7 percent, respectively, of the limited partner interests in Enable Midstream.

Affiliates of ArcLight Capital Partners, LLC will own 12.4 percent of the limited partner interests in Enable Midstream, or 11.5 percent of the limited partner interests if the underwriters exercise in full their option to purchase additional common units.

Enable Midstream owns, operates and develops strategically located natural gas and crude oil infrastructure assets.

Enable Midstream is a Delaware limited partnership formed by affiliates of CenterPoint Energy, OGE Energy and ArcLight Capital Partners, LLC. The partnership is managed by a general partner whose governance is shared by CenterPoint Energy and OGE Energy on a 50/50 basis.