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Crosstex Energy Eyes $700 Million Private Placement Of Notes

January 27, 2010 (FinancialWire) — The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) and Crosstex Energy, Inc. (NASDAQ: XTXI) said that, the partnership and its subsidiary, Crosstex Energy Finance Corp., plan to sell $700 million in aggregate principal amount of senior unsecured notes due 2018 in a private placement.

Crosstex plans to use the net proceeds of this offering to repay existing long-term indebtedness.

Dallas-based Crosstex Energy is a midstream natural gas company that operates approximately 3,300 miles of pipeline, nine processing plants and three fractionators.

The partnership currently provides services for 3.2 billion cubic feet of natural gas per day, or approximately six percent of marketed U.S. daily production.

Crosstex Energy owns the two percent general partner interest, a 25 percent limited partner interest and the incentive distribution rights of Crosstex Energy, L.P.

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