DALLAS, July 26 /PRNewswire-FirstCall/ -- Crosstex Energy, L.P.
(Nasdaq: XTEX) today announced that it has completed a private placement
offering of $245 million in senior secured notes with institutional investors.
The notes mature in 10 years, with an average life of eight years and an
annual coupon of 6.96 percent. Proceeds from the notes will be used to repay
borrowings under Crosstex's revolving credit facility. The notes have not
been registered under the Securities Act of 1933 and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements under the Securities Act of 1933.
"This transaction is consistent with our strategy to maintain a
conservative capital structure. Given the long-term nature of our assets, we
will continue to use long-term, fixed-rate debt for a significant portion of
our capital structure," stated Barry E. Davis, President and Chief Executive
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates over 5,000 miles of pipeline, ten processing plants, four
fractionators, and approximately 150 natural gas amine treating plants and 22
dew point control plants. Crosstex currently provides services for over 3.0
Bcf/day of natural gas, or approximately 6.0 percent of marketed U.S. daily
production based on August 2005 Department of Energy data.
Crosstex Energy, Inc. (Nasdaq: XTXI) owns the two percent general partner
interest, a 42 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at
SOURCE Crosstex Energy, L.P.
/CONTACT: investors, William W. Davis, Executive V.P. and Chief Financial
Officer of Crosstex Energy, L.P., +1-214-953-9500, or media, Jill McMillan,
Public Relations Specialist, +1-214-721-9271, for Crosstex Energy, L.P./
/Web site: http://www.crosstexenergy.com /
CO: Crosstex Energy, L.P.; Crosstex Energy, Inc.
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1330 07/26/2006 15:37 EDT http://www.prnewswire.com