SOURCE: Midcoast Energy Partners, L.P.

Midcoast Energy Partners, L.P.

October 31, 2013 07:01 ET

Midcoast Energy Partners, L.P. Announces Initial Public Offering of 18,500,000 Class A Common Units

HOUSTON, TX--(Marketwired - Oct 31, 2013) - Midcoast Energy Partners, L.P. (NYSE: MEP) ("Midcoast Partners") announced today the launch of its initial public offering of 18,500,000 Class A common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). Midcoast Partners will grant the underwriters a 30-day option to purchase from Midcoast Partners up to an additional 2,775,000 Class A common units at the initial public offering price. The Class A common units will be listed on the New York Stock Exchange under the ticker symbol "MEP."

The Class A common units being offered represent a 40 percent limited partner interest in Midcoast Partners, or a 46 percent limited partner interest if the underwriters exercise, in full, their option to purchase additional Class A common units. Enbridge Energy Partners, L.P. ("Enbridge Partners") (NYSE: EEP), through certain of its subsidiaries, will hold a 2 percent general partner interest and the remaining limited partner interest in Midcoast Partners.

BofA, Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan, Morgan Stanley, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the initial public offering. RBS, SMBC Nikko and Ladenburg Thalmann & Co. Inc. are acting as co-managers for the initial public offering. The offering of these securities will be made only by means of a prospectus. When available, a written prospectus that meets the requirements of Section 10 of the Securities Act of 1933 may be obtained from:

BofA Merrill Lynch
Attn: Prospectus Department
222 Broadway
New York, NY 10038

Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (888) 603-5847

c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (800) 831-9146

Credit Suisse
Attn: Prospectus Department
One Madison Avenue
New York, NY 10010
Tel: (800) 221-1037

Deutsche Bank Securities Inc.
Attn: Prospectus Department
60 Wall Street 
New York, NY 10005 
Tel: (800) 503-4611 

Goldman, Sachs & Co.
Attn: Prospectus Department
200 West Street
New York, NY 10282
Tel: (866) 471-2526

J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (866) 803-9204

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014

UBS Investment Bank
Attn: Prospectus Dept.
299 Park Avenue
New York, NY 10171
Tel: (888) 827-7275

Wells Fargo Securities
Attn: Equity Syndicate Department
375 Park Avenue
New York, NY 10152
Tel: (800) 326-5897

[A registration statement relating to these securities has been filed with the SEC, but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.]

About Midcoast Energy Partners, L.P.

Midcoast Energy Partners, L.P., an Enbridge company, is a limited partnership formed by Enbridge Energy Partners, L.P. (NYSE: EEP) to serve as Enbridge Partners' primary vehicle for owning and growing its natural gas and natural gas liquids (NGLs) midstream business in the U.S. Our initial assets consist of a 39 percent controlling interest in Midcoast Operating, L.P., a Texas limited partnership that owns a network of natural gas and NGL gathering and transportation systems, natural gas processing and treating facilities and NGL fractionation facilities primarily located in Texas and Oklahoma. Midcoast Operating also owns and operates natural gas, condensate and NGL logistics and marketing assets that primarily support its gathering, processing and transportation business. Through our ownership of Midcoast Operating's general partner, we control, manage and operate these systems.

Contact Information


    Sanjay Lad
    Investment Community
    (866) EEP INFO or (866) 337-4636
    E-mail: Email Contact

    Terri Larson, APR
    (877) 496-8142
    E-mail: Email Contact