www.magellanlp.com

08/17/2011


Magellan Midstream Prices $250 Million Debt Offering

TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced $250 million of its 4.25% senior notes due 2021. The notes, which are additional notes of the series originally issued on Aug. 11, 2010, were priced at 104.094% to yield 3.731% to maturity. The partnership intends to use the net proceeds from this offering of approximately $259 million, after the underwriting discount, estimated offering expenses and accrued interest, to repay all of the borrowings outstanding under its revolving credit facility and for general partnership purposes, including investments in capital expenditures and interest bearing securities or accounts. 

BofA Merrill Lynch, J.P. Morgan, SunTrust Robinson Humphrey and Wells Fargo Securities are joint book-running managers for the debt offering, with Citigroup, Deutsche Bank Securities, Mitsubishi UFJ Securities and SMBC Nikko acting as co-managing underwriters. The offering is expected to close on Aug. 24, 2011. 

When available, a copy of the final prospectus supplement and related base prospectus associated with the senior notes offering may be obtained from the Securities and Exchange Commission’s website at www.sec.gov or from any of the underwriters, including: 

  • Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, 100 West 33rd Street, 3rd floor, New York, NY 10001, phone: 800-294-1322;  
  • J.P. Morgan Securities LLC, Attention: High Grade Syndicate Desk, 383 Madison Avenue, New York, NY 10179, phone: 212-834-4533;   
  • SunTrust Robinson Humphrey, Inc., 3333 Peachtree Rd., 11th floor, Atlanta, GA 30326, phone: 800-685-4786; or    
  • Wells Fargo Securities, LLC, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, e-mail: cmClientsupport@wachovia.com, phone: 800-326-5897. 

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement. 

About Magellan Midstream Partners, L.P. 

Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products, such as gasoline and diesel fuel, and crude oil. The partnership’s primary assets include: the longest petroleum products pipeline system in the continental United States at 9,600 miles, which can access more than 40% of the country’s refining capacity and imports, as well as more than 80 petroleum terminals with over 75 million barrels of storage.  

### 

Portions of this document may constitute forward-looking statements as defined by federal law. Although management believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership’s filings with the Securities and Exchange Commission.  


Contact Information:

Paula Farrell Investor Relations 918-574-7650 paula.farrell@magellanlp.com