The senior unsecured notes will be issued at a price of 100% of the principal amount to yield 7 1/8 % to maturity.
Subject to customary closing conditions, the offering is expected to close on 24 May 2012.
Net proceeds from the offering will be used to finance Crosstex Energy’s previously announced agreement to acquire Clearfield Energy.
The company also intends to use the funds for general partnership use including capital expenditures for the Cajun-Sibon natural gas liquids pipeline expansion.
Crosstex Energy said the net proceeds will be placed into an escrow account, pending such use.
The company said the notes will be redeemed at 100% of the principal amount, plus accrued and unpaid interest to the redemption date, if the acquisition does not close by 31 August 2012.
