Enable Midstream Partners Prices IPO At Midpoint Of Range - Quick Facts

(RTTNews) - Enable Midstream Partners LP (ENBL) Thursday priced its initial public offering of 25 million common units representing limited partner interests at a price of $20.00 per common unit, which is midpoint of the previously estimated price range of $19.00 to $21.00 per unit.

The underwriters have a 30-day option to purchase up to an additional 3.75 million common units from an affiliate of ArcLight Capital Partners LLC.

The common units are scheduled to begin trading Friday, April 11, on the New York Stock Exchange under the symbol "ENBL."

The offering is expected to close April 16, 2014.

At the conclusion of the offering, the public will own about 6 percent of the limited partner interests in Enable Midstream, or 6.9 percent 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 natural gas and crude oil infrastructure assets. Its assets include about 11,000 miles of gathering pipelines, 12 major processing plants with nearly 2.1 billion cubic feet per day of processing capacity, about 7,900 miles of interstate pipelines, around 2,300 miles of intrastate pipelines and eight storage facilities comprising 86.5 billion cubic feet of storage capacity.