Inergy, L.P. Announces $600 Million Private Placement of Senior Notes

Inergy, L.P. NRGY and its wholly-owned subsidiary Inergy Finance Corp. announced today, subject to market conditions, that they intend to sell in a private placement under Rule 144A to eligible purchasers $600 million in aggregate principal amount of senior unsecured notes due 2018. Inergy, L.P. intends to use the net proceeds from this offering to fund part of the consideration for the Tres Palacios acquisition. Pending such use, the net proceeds of the notes will be placed in an escrow account. If the acquisition is not closed by December 31, 2010, the notes will be redeemed at 100% of the principal amount. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.