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Summit Midstream Partners

announces extension
of early tender deadline

relating to tender offers for

outstanding 2025 and 2022

senior notes

Summit Midstream Partners announced
Coast’s strategic repositioning to focus on refinery to 100% renewables. today that its subsidiaries, Summit Midstream
its core offshore and Gulf Coast asset base. Argus Media chairman and chief executive Holdings and Summit Midstream Finance,
In addition, Third Coast has executed a Adrian Binks said: “As economies around have amended their previously announced
commercial services agreement with Black the world look for alternatives to fossil cash tender offers to purchase a portion of the
Bear, which will ensure a smooth transition fuels, Argus is pleased to play a key role issuers’ outstanding 5.50% senior notes due
and consistent commercial operations for in the adoption of renewables by bringing 2022 and outstanding 5.75% senior notes due
Black Bear’s customers.” transparency to the emerging market.” 2025 in separate modified “Dutch auctions”
Barclays served as exclusive financial ARGUS, September 08, 2020 pursuant to the terms and subject to the
advisor to Basalt, and Vinson & Elkins served conditions set forth in the offer to purchase,
as Basalt’s legal advisor. BMO Capital Markets dated August 25, 2020. The maximum amount
served as exclusive financial advisor to Third SERVICES of 2025 notes that may be purchased in the
Coast Midstream, while Orrick served as tender offers will be a principal amount of
Third Coast Midstream’s legal advisor. SecurityGate.io selected by 2025 notes that could be purchased with a
BLACK BEAR TRANSMISSION, September 09, purchase price, excluding accrued interest, of
2020 Chevron to help them scale up to $60,000,000, and the maximum amount
of 2022 notes that may be purchased in the
global OT cybersecurity tender offers will be a principal amount of
DOWNSTREAM 2022 notes that could be purchased with a
SecurityGate.io today announced Chevron purchase price, excluding accrued interest, of
Argus launches renewable has selected their risk management platform up to $60,000,000 less the aggregate purchase
price, excluding accrued interest, of 2025
for scaling OT (Operational Technology)
feedstock prices for US cybersecurity. SecurityGate.io is excited to notes purchased in the tender offers.
partner with Chevron to provide automation
The issuers are extending the early tender
Global energy and commodity price reporting for scaling OT cyber assessments and deadline to 5:00 p.m., New York City time, on
agency Argus has launched 30 new daily intelligent insights for making consistent Wednesday, September 16, 2020.
renewable feedstock price assessments in cybersecurity improvements. As of 5:00 p.m., New York City time, on
the US, reflecting the growing importance “We’re very excited to be working with Tuesday, September 8, 2020, according to
of environmentally friendly fuels for the Chevron as they replace manual, spreadsheet information provided by DF King & Co., the
transportation sector. cybersecurity practices with scalable, digitized tender and information agent for the tender
The new prices, published daily in the processes,” says Ted Gutierrez, CEO at offers, approximately $32,919,000 aggregate
Argus America Biofuels report, are based on SecurityGate.io. “Their risk management team principal amount of the 2022 Notes had been
waste products including used cooking oil, has done amazing work and it’s exciting to see validly tendered and not withdrawn and
poultry fat, tallow, choice white grease and where they’re headed.” approximately $33,012,000 aggregate principal
yellow grease. A full list of the new prices and Chevron’s use of SecurityGate.io was put amount of the 2025 Notes had been validly
locations can be found here. to the test with the COVID-19 pandemic tendered and not withdrawn. The withdrawal
These feedstocks are used to produce preventing travel. Kenny Mesker, Industrial deadline expired at 5:00 p.m., New York City
renewable diesel, which meets the Control Systems Cybersecurity Advisor, at time, on September 8, 2020. As such, notes
specifications of petroleum-based diesel but Chevron said in an interview, “When the tendered in the tender offers after that time
with far fewer carbon emissions. quarantines started, we had no real impact may not be withdrawn, except as required by
Regulations in many US states, such as on our cyber assessment program because law.
California’s Low Carbon Fuel Standards, we were transitioning into [SecurityGate.io’s] The tender offers remain scheduled to
require the transportation sector to reduce automation. We had a number of projects that expire at 11:59 p.m., New York City time, on
greenhouse gas emissions. In response, did not stop at all. [Because of SecurityGate. September 22, 2020, unless extended. The
the country’s leading refiners are io] it was just as easy to do them without any issuers plan to settle the tender offers on
expanding renewable diesel production travel or physical presence, and that would September 24, 2020.
capacity – Phillips 66 announced plans have been impossible before.” SUMMIT MIDSTREAM PARTNERS, September
last month to convert its San Francisco SECURITYGATE.IO, September 09, 2020 09, 2020

Week 36 10•September•2020 www. NEWSBASE .com P17