Kinder Morgan Energy Partners, L.P. (NYSE: KMP) reported that its secondary offering of additional common units has been raised to a value of approximately $282 million due to a 15% increase in the number of shares to 5,000,000. The offering represents limited partner interests and allows underwriters to purchase up to 750,000 more units.
Lead underwriters includes Lehman Brothers and Morgan Stanley, while the co-managers are Citibank, Deutsche Bank, Goldman Sachs, UBS, Wachovia, Morgan Keegan, Raymond James, RBC Capital Markets, and Sanders Morris Harris.
Kinder Morgan, a master limited partnership, has enjoyed an increasing share price over the last month, rising by over $2 to from $56.14 at close on January 26 to $58.58 at close yesterday. Shares are now down roughly 2% to $57.14 in early trading.
JPMorgan recently raised its rating on this to an outperform rating.
Rachel Lopez
February 27, 2008
Credit Card Companies Are Doing Something Nuts
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