HOUSTON, April 17, 2013 /PRNewswire/ -- Copano Energy,
L.L.C. (NASDAQ: CPNO) announced today the successful conclusion of
the consent solicitation relating to its 7.125% Senior Notes due
2021 (the "Notes"). As of 5:00
p.m., New York City time,
on April 16, 2013 (the "Expiration
Date"), Copano had received consents to the adoption of certain
proposed amendments to the indenture governing the Notes from
holders of approximately $506 million
in aggregate principal amount, or 99%, of the outstanding Notes.
Copano, its subsidiary guarantors and the trustee under the
indenture have executed a supplemental indenture making the
amendments effective. The consent solicitation was made
pursuant to the consent solicitation statement dated March 28, 2013, as amended.
Copano is in the process of making a cash payment of
$2.50 per $1,000 principal amount of Notes to each
Noteholder who validly delivered (and did not revoke) a consent
prior to the Expiration Date. Any questions respecting these
payments should be directed to the Tabulation and Information Agent
for the consent solicitation, D.F.
King & Co., Inc. at (888) 887-0082 (toll free) or (212)
269-5550 (banks and brokers, call collect).
About Copano Energy, L.L.C.
Copano Energy, L.L.C. is a midstream natural gas company with
operations in Texas, Oklahoma and Wyoming. For more
information, please visit http://www.copano.com.
This news release includes "forward-looking statements," as
defined by the Securities and Exchange Commission. Statements that
address activities or events that Copano believes will or may occur
in the future are forward-looking statements. These statements
include, but are not limited to, statements about future producer
activity and Copano's total distributable cash flow and
distribution coverage. These statements are based on management's
experience and perception of historical trends, current conditions,
expected future developments and other factors management believes
are reasonable. Important factors that could cause actual results
to differ materially from those in forward-looking statements
include the following risks and uncertainties, many of which are
beyond Copano's control: the volatility of prices and market demand
for natural gas, crude oil, condensate and NGLs, and for products
derived from these commodities; Copano's ability to continue to
connect new sources of natural gas, crude oil and condensate, and
the NGL content of new gas supplies; the ability of key producers
to continue to drill and successfully complete and connect new
natural gas and condensate volumes and such producers' performance
under their contracts with Copano; Copano's ability to attract and
retain key customers and contract with new customers, and such
customers' performance under their contracts with Copano; Copano's
ability to access or construct new pipeline capacity, gas
processing and NGL fractionation and transportation capacity; the
availability of local, intrastate and interstate transportation
systems, trucks and other facilities and services for condensate,
natural gas and NGLs; Copano's ability (and the ability of its
third-party service providers) to meet in-service dates, cost
expectations and operating performance standards for construction
projects; Copano's ability to successfully integrate any acquired
asset or operations; Copano's ability to access its revolving
credit facility and to obtain additional financing on acceptable
terms; the effectiveness of Copano's hedging program; general
economic conditions; force majeure events such as the loss of a
market or facility downtime; the effects of government regulations
and policies; Copano's ability to complete its proposed merger with
Kinder Morgan; and other financial,
operational and legal risks and uncertainties detailed from time to
time in Copano's quarterly and annual reports filed with the
Securities and Exchange Commission. Copano does not undertake to
update any forward-looking statement except as provided by
law.
Contacts:
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Carl A.
Luna, SVP and CFO
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Copano
Energy, L.L.C.
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713-621-9547
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Jack
Lascar/jlascar@dennardlascar.com
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Anne
Pearson/apearson@dennardlascar.com
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Dennard-Lascar Associates / 713-529-6600
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SOURCE Copano Energy, L.L.C.