Inergy, L.P. (Nasdaq:NRGY), announced today the commencement of an
underwritten public offering of 4,000,000 common units. Inergy, L.P.
also intends to grant the underwriters the option to purchase up to
600,000 additional common units to cover over-allotments, if any.
Inergy, L.P. intends to use the net proceeds from this offering to repay
outstanding indebtedness under its revolving working capital credit
facility and its revolving acquisition credit facility. Amounts repaid
under its revolving credit facilities may be reborrowed from time to
time for acquisitions, growth capital expenditures, working capital
needs, and other general partnership purposes.
Wachovia Securities, Barclays Capital, Citi, and UBS Investment Bank
will act as joint book-running managers. A copy of the prospectus and
related preliminary prospectus supplement associated with this offering
may be obtained from the underwriters as follows:
Wachovia Securities
Attn: Equity Syndicate Dept.
375 Park
Avenue
New York, New York 10152
Email: equity.syndicate@wachovia.com
Telephone:
800-326-5897
Barclays Capital
c/o Broadridge
Integrated Distribution
Services
1155 Long Island Avenue
Edgewood, New York 11717
Email:
Barclaysprospectus@broadridge.com
Telephone:
888-603-5847
Citi
Brooklyn Army Terminal
Attention: Prospectus Delivery
Dept.
140 58th Street, Brooklyn, NY 11220
Telephone:
800-831-9146
UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New
York, New York 10171
Telephone: 888-827-7275
The issuer has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration
statement and other documents the issuer has filed with the SEC for more
complete information about the issuer and this offering. You may get
these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, the issuer, any underwriter, or any dealer participating
in the offering will arrange to send you the prospectus if you request
it by calling any of the underwriters toll-free at the phone numbers
listed above.
Inergy, L.P. (Nasdaq:NRGY), with headquarters in Kansas City, Mo., is a
master limited partnership with operations that include the retail
marketing, sale, and distribution of propane to residential, commercial,
industrial, and agricultural customers. Inergy serves its retail propane
customers from customer service centers in the eastern half of the
United States. The Company also operates a natural gas storage business
and a supply logistics, transportation, and wholesale marketing business
that serves independent dealers and multi-state marketers in the United
States and Canada.
This press release includes statements regarding the offering that may
constitute forward-looking statements. Such forward-looking statements
are subject to a variety of known and unknown risks, uncertainties, and
other factors that are difficult to predict and many of which are beyond
management's control. Factors that can affect future results are
discussed in Inergy, L.P.'s annual report on Form 10-K and other reports
filed by Inergy, L.P. from time to time with the SEC. Inergy, L.P.
undertakes no obligation to update or revise any forward-looking
statement to reflect new information or events.
Inergy, L.P.
Mike Campbell, 816-842-8181
investorrelations@inergyservices.com
