BB&T Capital Markets Serves as a Co-Manager on Noble Midstream Partners’ Initial Public Offering
BB&T Capital Markets’ Energy Group completed a transaction for a midstream oil & natural gas company in the third quarter of 2016, helping to raise $323,437,500 in gross proceeds for our client.
The Company intends to use the net proceeds from the offering to pay a cash distribution to Noble Energy for dedication of initial assets and for general corporate purposes. Total gross proceeds include the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,875,000 shares.
About the Companies
Noble Midstream (“NBLX” or “The Company”) is a growth-oriented Delaware master limited partnership formed by Noble Energy (NBL), to own, operate, develop and acquire domestic midstream infrastructure assets. NBLX currently provides crude oil, natural gas, and water-related midstream services for Noble in the DJ Basin through long-term, fixed-fee contracts.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.