TULSA, Okla. – Magellan
Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced a $250
million public offering of 4.20% senior notes due Dec. 1, 2042 at a price of
approximately 99.338% of par to yield 4.239% to maturity. The partnership
intends to use the net proceeds from this offering of approximately $245.7
million, after underwriting discounts and estimated offering expenses, for
general partnership purposes, including capital expenditures and investments in
interest bearing securities or accounts.
The offering is
expected to close on Nov. 9, 2012 and is subject to customary closing
conditions. Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust
Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are joint book-running
managers for the debt offering, with Citigroup Global Markets Inc., J.P. Morgan
Securities LLC, Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC,
UBS Securities LLC and U.S. Bancorp Investments, Inc. acting as co-managers.
The offering may be made only by means
of a prospectus supplement and accompanying base prospectus. Copies of these
documents may be obtained from:
- Barclays Capital Inc., c/o Broadridge
Financial Solutions, Inc., 1155 Long Island Avenue, Edgewood, NY 11717, e-mail:
barclaysprospectus@broadridge.com, phone: 888-603-5847;
- Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New York, NY 10005, e-mail: prospectus.cpdg@db.com,
phone: 800-503-4611;
- 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@wellsfargo.com, phone: 800-326-5897.
Electronic copies of the prospectus supplement and
accompanying base prospectus are also available from the Securities and
Exchange Commission’s website at www.sec.gov.
A registration statement relating to
these securities became effective upon filing with the Securities and Exchange
Commission. 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.
About
Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly
traded partnership that primarily transports, stores and distributes petroleum
products. The partnership owns the longest refined petroleum products pipeline
system in the country, with access to more than 40% of the nation’s refining
capacity, and can store 80 million barrels of petroleum products such as
gasoline, diesel fuel and crude oil.
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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.