Chesapeake Midstream Sets IPO Terms

(Reuters) – Chesapeake Midstream Partners LP, a joint venture between Chesapeake Energy Corp (CHK.N) and Global Infrastructure Partners, said it will offer 21.25 million units in an initial public offering.

The company, in which Chesapeake Energy currently owns a 50 percent stake, said the units being offered represent a 15.1 percent limited partner interest in the company.

Chesapeake Midstream’s units will be listed on the New York Stock Exchange under the symbol “CHKM.”

Following the offering, Chesapeake Energy and its JV partner Global Infrastructure Partners will own 41.45 percent each in Chesapeake Midstream. (Reporting by Krishna N. Das in Bangalore; Editing by Maju Samuel)