The restructuring permanently eliminates Niska's subordinated units and previous incentive distribution rights in return for the new IDRs.
Dupéré continued, "This restructuring eliminates the requirement to pay the subordinated unit distribution prior to increasing distributions on our common units.
We believe the elimination of the potential distributions to subordinated units also enhances Niska's access to the equity capital markets, if required."
Niska also contracts for gas storage capacity on the Natural Gas Pipeline Company of America system.
Niska Gas Storage Partners LLC Investor Relations: Brandon Tran - 403-513-8600 HUG#1689689 distributed by
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