Magellan Midstream Prices $250 Million, 30-Year Debt Offering

 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.   


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