10:14 AM EST, 01/07/2025 (MT Newswires) -- Summit Midstream ( SMC ) said Tuesday its Summit Midstream Holdings unit is offering $250 million in additional 8.625% senior secured second lien notes due 2029.

The company said the new notes will have the same terms as $575 million of existing notes, apart from the issue date and price, and will be secured on a second-priority basis by the same collateral backing the Summit Midstream Holdings' asset-based lending facility.

Net proceeds from the offering will be allocated toward reducing borrowings under its credit facility and for general corporate purposes, the company said.

Summit Midstream ( SMC ) shares were 0.3% higher in recent trading.

Price: 37.47, Change: -0.40, Percent Change: -1.06