Magellan Midstream Prices $300 Million, 30-Year Senior Notes Offering

TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced a $300 million public offering of 5.15% senior notes due Oct. 15, 2043 at a price of approximately 99.56% of par to yield 5.179% to maturity. The partnership intends to use the net proceeds from this offering of approximately $295.6 million, after underwriting discounts and estimated offering expenses, 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 Oct. 10, 2013 and is subject to customary closing conditions. J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC are joint book-running managers for the debt offering, with Barclays Capital Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., UBS Securities LLC and Wells Fargo Securities, LLC 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: 

  • J.P. Morgan Securities LLC, 383 Madison Avenue, 3rd floor, Attention: Investment Grade Syndicate Desk, New York, NY 10179, phone: (212) 834-4533;
  • Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: (800) 831-9146;
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th floor, Attention: Prospectus Department, New York, NY 10038, phone: (800) 294-1322; or
  • RBC Capital Markets, LLC, 200 Vesey Street, Three World Financial Center, Attention: Transaction Management, New York, NY 10281, phone: (866) 375-6829.

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 more than 40% of the nation’s refining capacity, and can store over 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