EX-99.1
4
a10-3815_28ex99d1.htm
EX-99.1
Exhibit 99.1
For Immediate Release
Niska Gas Storage Partners LLC Prices Initial Public Offering
of Common Units
Houston, Texas
- May 11,
2010 - Niska Gas Storage Partners LLC ("Niska") announced today the pricing of
its initial public offering of 17,500,000 common units at $20.50 per unit. The units
will begin trading on the New York Stock Exchange on May 12, 2010 under
the ticker symbol "NKA." The underwriters have the option to purchase from Niska
up to an additional 2,625,000 common units, at the same price, to cover
over-allotments, if any. The offering is
expected to close on May 17, 2010.
Niska intends to use the net
proceeds from the offering to repay borrowings under its revolving credit
facility and the remainder for general company purposes, including to fund a
portion of the cost of its expansion projects.
Upon conclusion of the
offering, the public will own 17,500,000 common units, or 20,125,000 common
units if the underwriters exercise, in full, their option to purchase
additional common units. Niska Sponsor
Holdings Coöperatief U.A., which is majority owned by funds managed by
Riverstone Holdings LLC, will own, directly or indirectly, the remaining equity
interests.
Goldman, Sachs &
Co., Morgan Stanley & Co. Incorporated, Barclays Capital Inc.,
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital
Markets Corporation, and UBS Securities LLC are acting as joint book-running
managers of the offering. The offering of these securities is being made only
by means of a prospectus, copies of which may be obtained from Goldman, Sachs &
Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282 or
by calling (866) 471-2526, or from Morgan Stanley & Co. Incorporated, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by
calling (866) 718-1649.
A registration statement
relating to these securities has been declared effective by the U.S. Securities
and Exchange Commission. This press release does not constitute an offer to
sell or a solicitation of an offer to buy the securities described above, nor
shall there be any sale of such common units in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
About Niska
Niska is the largest independent owner and operator
of natural gas storage in North America, with strategically located assets in
key natural gas producing and consuming regions. Niska owns and operates three
facilities, including the AECO Hub™ in Alberta, Canada; Wild Goose in Northern
California; and Salt Plains in Oklahoma.
Niska also contracts 8.5 Bcf of gas storage capacity on the Natural Gas Pipeline Company of America system. In total, Niska
owns or contracts approximately 185.5 Bcf of gas storage capacity.
Forward
Looking Statements
This press release includes "forward-looking
statements" - that is, statements related to future, not past, events.
Forward-looking statements are based on current expectations and include any
statement that does not directly relate to a current or historical fact. In
this context, forward-
looking statements often
address our expected future business and financial performance, and often
contain words such as "anticipate", "believe", "intend", "expect", "plan", "will"
or other similar words. These forward-looking statements involve certain risks
and uncertainties that ultimately may not prove to be accurate. Actual results
and future events could differ materially from those anticipated in such
statements. For further discussion of risks and uncertainties, you should refer
to Niska's SEC filings. Niska undertakes no obligation and does not intend to
update these forward-looking statements to reflect events or circumstances
occurring after this press release. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. All forward-looking statements are qualified in their entirety
by this cautionary statement.
Contact
For
Niska Gas Storage Partners LLC
Jeffrey
Taufield or Michael Freitag
Kekst and Company
212-521-4800

EX - 99 . 1 4 a10 - 3815 _ 28ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 For Immediate Release Niska Gas Storage Partners LLC Prices Initial Public Offering of Common Units Houston , Texas - May 11 , 2010 - Niska Gas Storage Partners LLC ( " Niska " ) announced today the pricing of its initial public offering of 17,500,000 common units at $ 20.50 per unit . The units will begin trading on the New York Stock Exchange on May 12 , 2010 under the ticker symbol " NKA . " The underwriters have the option to purchase from Niska up to an additional 2,625,000 common units , at the same price , to cover over - allotments , if any . The offering is expected to close on May 17 , 2010 . Niska intends to use the net proceeds from the offering to repay borrowings under its revolving credit facility and the remainder for general company purposes , including to fund a portion of the cost of its expansion projects . Upon conclusion of the offering , the public will own 17,500,000 common units , or 20,125,000 common units if the underwriters exercise , in full , their option to purchase additional common units . Niska Sponsor Holdings Coöperatief U . A . , which is majority owned by funds managed by Riverstone Holdings LLC , will own , directly or indirectly , the remaining equity interests . Goldman , Sachs & Co . , Morgan Stanley & Co . Incorporated , Barclays Capital Inc . , Citigroup Global Markets Inc . , Credit Suisse Securities ( USA ) LLC , RBC Capital Markets Corporation , and UBS Securities LLC are acting as joint book - running managers of the offering . The offering of these securities is being made only by means of a prospectus , copies of which may be obtained from Goldman , Sachs & Co . , Attention : Prospectus Department , 200 West Street , New York , NY 10282 or by calling ( 866 ) 471 - 2526 , or from Morgan Stanley & Co . Incorporated , Attention : Prospectus Department , 180 Varick Street , 2nd Floor , New York , NY 10014 , or by calling ( 866 ) 718 - 1649 . A registration statement relating to these securities has been declared effective by the U . S . Securities and Exchange Commission . This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above , nor shall there be any sale of such common units in any state or jurisdiction in which such offer , solicitation , or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction . About Niska Niska is the largest independent owner and operator of natural gas storage in North America , with strategically located assets in key natural gas producing and consuming regions . Niska owns and operates three facilities , including the AECO Hub ™ in Alberta , Canada ; Wild Goose in Northern California ; and Salt Plains in Oklahoma . Niska also contracts 8.5 Bcf of gas storage capacity on the Natural Gas Pipeline Company of America system . In total , Niska owns or contracts approximately 185.5 Bcf of gas storage capacity . Forward Looking Statements This press release includes " forward - looking statements " - that is , statements related to future , not past , events . Forward - looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact . In this context , forward - looking statements often address our expected future business and financial performance , and often contain words such as " anticipate " , " believe " , " intend " , " expect " , " plan " , " will " or other similar words . These forward - looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate . Actual results and future events could differ materially from those anticipated in such statements . For further discussion of risks and uncertainties , you should refer to Niska 's SEC filings . Niska undertakes no obligation and does not intend to update these forward - looking statements to reflect events or circumstances occurring after this press release . You are cautioned not to place undue reliance on these forward - looking statements , which speak only as of the date of this press release . All forward - looking statements are qualified in their entirety by this cautionary statement . Contact For Niska Gas Storage Partners LLC Jeffrey Taufield or Michael Freitag Kekst and Company 212 - 521 - 4800
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