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ArcLight Capital Partners’ Enable Midstream files for IPO

Enable Midstream Partners said Tuesday that it has filed for an IPO. The number of shares to be offered and pricing terms have yet to be determined but the company expects to receive approximately $500 million in proceeds as a result. Enable plans on listing the stock on the New York Stock Exchange under the ticker symbol “ENBL.” Morgan Stanley, Barclays and Goldman, Sachs & Co will be serving as lead underwriters. Formed by CenterPoint Energy, OGE Energy and ArcLight Capital Partners, Enable Midstream Partners is an owner, operator and developer of natural gas and crude oil infrastructure assets.

PRESS RELEASE

HOUSTON, OKLAHOMA CITY, and BOSTON, Nov. 26, 2013 /PRNewswire/ — CenterPoint Energy, Inc. (NYSE: CNP), OGE Energy Corp. (NYSE: OGE) and ArcLight Capital Partners, LLC announced today that Enable Midstream Partners, LP has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to the proposed initial public offering of its common units representing limited partner interests. The offering is expected to occur in the first quarter of 2014. Enable Midstream expects the common units will trade under the ticker symbol “ENBL” on the New York Stock Exchange. The number of common units to be offered and the price range for the offering have not yet been determined. Enable Midstream expects to receive gross proceeds from the offering in the amount of approximately $500 million, excluding proceeds from any exercise of the underwriters’ over-allotment option to purchase additional common units. Enable Midstream intends to retain the net proceeds of the offering, primarily to fund expansion opportunities.
Enable Midstream owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable Midstream’s initial assets include approximately 11,000 miles of gathering pipelines, 11 major processing plants with approximately 1.9 billion cubic feet per day of processing capacity, approximately 7,800 miles of interstate pipelines, approximately 2,300 miles of intrastate pipelines and eight storage facilities comprising 86.5 billion cubic feet of storage capacity.
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.
Morgan Stanley, Barclays and Goldman, Sachs & Co. are acting as joint book-running managers for the proposed offering. The offering will be made only by means of a prospectus. Once it becomes available, potential investors can obtain a preliminary prospectus related to this offering from:
Morgan Stanley & Co. LLC
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 1-866-718-1649
Barclays Capital Inc.
c/o Broadridge Financial Solutions