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Summit Midstream Partners amends offer to exchange 9.50 percent Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units.

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International Resource News-March 25, 2021--Summit Midstream Partners amends offer to exchange 9.50 percent Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

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International Resource News - 25 March 2021

United States-based Summit Midstream Partners LP (NYSE: SMLP) has amended its offer to exchange its 9.50 percent Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units.

The Units are in exchange for newly issued common units representing limited partner interests in the collaboration.

For each Series A Preferred Unit that is accepted in the Exchange Offer, the holder will receive 30 Common Units, up by around 11 percent more than the earlier offer of 27 Common Units for each Series A Preferred Unit properly tendered. Also, the maximum...

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