January 16, 2018 / 9:55 PM / 8 months ago

BRIEF-SemGroup Corp Announces $350 Mln Private Placement Of 7% Series A Shares

Jan 16 (Reuters) - Semgroup Corp:

* SEMGROUP CORPORATION ANNOUNCES $350 MILLION PRIVATE PLACEMENT OF 7% SERIES A CONVERTIBLE PREFERRED SHARES

* SEMGROUP-‍ENTERED AGREEMENT FOR PRIVATE PLACEMENT OF $350 MILLION OF NEWLY AUTHORIZED 7% SERIES A CONVERTIBLE PREFERRED SHARES AT PRICE OF $1,000 PER SHARE​

* SEMGROUP CORP - ‍SEMGROUP EXPECTS TO USE NET PROCEEDS TO REPAY AMOUNTS BORROWED UNDER COMPANY'S REVOLVING CREDIT FACILITY​

* SEMGROUP CORP - ‍SEMGROUP ALSO EXPECTS TO USE NET PROCEEDS TO FUND ANTICIPATED CAPITAL NEEDS FOR 2018​ Source text for Eikon: Further company coverage:

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