TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced $250 million of its 5.15% senior notes due 2043. The notes, which are additional notes of the series originally issued on Oct. 10, 2013, were priced at 103.085% of par to yield 4.95% to maturity. The partnership intends to use the net proceeds from this offering of approximately $255 million, after underwriting discounts, estimated offering expenses and accrued interest, to repay borrowings outstanding under its revolving credit facility and for general partnership purposes, which may include capital expenditures. Pending application of the net proceeds, the partnership may make investments in interest bearing securities or accounts. 

The offering is expected to close on March 4, 2014 and is subject to customary closing conditions. Wells Fargo Securities, LLC, Barclays Capital Inc., Mitsubishi UFJ Securities (USA), Inc. and U.S. Bancorp Investments, Inc. are joint book-running managers for the debt offering, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC and SunTrust Robinson Humphrey, 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: 

• 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;
• 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;
• Mitsubishi UFJ Securities (USA), Inc., Attention: Capital Markets Group, 1633 Broadway, 29^th Floor, New York, NY 10019, phone: 877-649-6848; or
• U.S. Bancorp Investments, Inc., 214 North Tryon Street, 26^th Floor, Charlotte, NC 28202, phone: 877-558-2607.

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 refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 90 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.