MarkWest Floats Notes Seeking $650M…or $500M…or $1.15B – Which?

Somebody help us out here. We noticed one day after MarkWest Energy released their 2014 numbers and commentary (see MarkWest Energy Continues to Soar in 2014, New Record for Northeast and MarkWest Energy Investor Phone Call Excerpts + PowerPoint), the company issued two press releases saying they are shopping senior unsecured notes (essentially IOUs) looking to raise money to pay off other money they borrowed in the past. Yes, they’re borrowing money to pay off borrowed money. One of the press releases says they want $650 million, and the other says $500 million. Are these two different tranches of money they’re after ($1.15 billion total)? Or did they issue one press release to supersede the other? And if so, which amount do they really want? Help!…

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