Access Midstream, Williams Cos. to make public offerings

Access Midstream Partners LP has commenced a public offering of $1.4 billion in senior notes to fund a portion of its acquisition of pipeline assets from Chesapeake Energy Corp. Access has agreed to pay $2.16 billion for natural gas pipeline, compression and storage facilities in several major shale plays from Chesapeake subsidiary Chesapeake Midstream Operating. Meanwhile, Williams Cos. Inc. will publicly offer 46.5 million shares at $31 each to help pay for its $2.4 billion acquisition of stakes in Access Midstream Partners LP and Access Midstream Partners GP. The Access deal will give the natural gas infrastructure company a 50 percent share of Access' general partner interest and 25 percent of the master limited partnership that owns Chesapeake Energy Corp.'s former pipeline and processing assets. Williams previously said it would finance the Access stake with a combination of debt and equity. The transaction is expected to close by the end of the year.

Alan Sing, appointed a director and executive vice president of Duncan-based Bank of Commerce on Dec. 12, 2012. Brian Hibbard - Provided

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