Alhtough this will drive the price down a buck or two (already down $1.25 after hours), investors (not quick buck artists) will be well served in this economy when a company can actually issue stock to pay down debt. This means more money to maintain the dividend, and for new acquisitions. After the initial stock drop, it will regain any loss within a month if history is a guide. A number of my companies have done this, and stock price usually comes back quickly.
Exactly right. In this market, especially for MLPs, you have to raise money when the market window is open. They did that with both the debt offering and this equity offering. Between the two offerings, they should be able to repay most if not all of the credit facility. Looking for an entry point today.