Crestwood Midstream prices offering of units

Crestwood Midstream prices offering of 4.5 million units

Associated Press

HOUSTON (AP) -- Crestwood Midstream Partners LP said Tuesday it priced a public offering of 4.5 million common units at $23.90 per unit.

The price is a 4 percent discount to the units' previous close of $24.85. They fell nearly 5 percent in afternoon trading.

Underwriters have a 30-day option to buy up to 675,000 additional units.

Houston-based Crestwood, which owns assets that help process and treat natural gas, said proceeds will be used to pay back debt and for general partnership purposes.

Its units fell $1.22 to $23.63 in afternoon trading.

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